The International Monetary Fund warned El Salvador on 22 November against using bitcoin as official tender given the risks associated with the cryptocurrency, a day after the country announced plans for the world's first 'Bitcoin City'. El Salvador became the first country to adopt Bitcoin as a legal tender on September 7, 2021 . The latest development has seen President Nayib Bukele making a statement that El Salvador plans to build a 'Bitcoin City' powered by a volcano and financed b...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes
