The risks of legalising Bitcoin in El Salvador have “not materialised” due to the “limited” spread of the cryptocurrency. IMF experts said.<\/p>\n
\n“Although [Bitcoin-related] risks did not materialise due to the limited use of the asset\u2014as survey and transaction data show\u2014its use could expand [\u2026]. In this context, the main risks to financial integrity and stability, fiscal sustainability and consumer protection remain,” the press release says.<\/p>\n<\/blockquote>\n
The IMF’s staff presented their preliminary conclusions following a visit to El Salvador for consultations under Paragraph IV \u0421\u0442\u0430\u0442\u0435\u0439 \u0441\u043e\u0433\u043b\u0430\u0448\u0435\u043d\u0438\u044f \u041c\u0412\u0424<\/a>.<\/p>\n
The IMF emphasised that the authorities should “reconsider their plans to expand the government’s exposure to Bitcoin”.<\/p>\n
The staff also noted that they could not assess the scale of El Salvador’s investment in the asset due to the government’s “non-transparent” actions.<\/p>\n
Meanwhile, analysts said the country’s economy had “fully recovered” to the level it possessed before the onset of the coronavirus pandemic.<\/p>\n