IMF Demands El Salvador Curb Bitcoin Operations to Unlock $1.4B Loan
- —IMF demands zero state-led BTC accumulation and a continued ban on Bitcoin tax payments
- —El Salvador received $138 million after the second and third reviews of the EFF program
- —The treasury holds 7,789 BTC worth $660 million at an average cost basis of $55,718
- —A public audit of digital assets and transfer of the Chivo wallet to a private operator are required
Why it matters: The IMF conditions cement El Salvador's retreat from its state Bitcoin strategy, weakening the narrative of BTC as a sovereign reserve asset.
Source: Coinpedia