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IMF recommends El Salvador not use Bitcoin as legal tender
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economictimes.indiatimes.comIMF) on Monday said El Salvador should not use bitcoin as legal tender, considering risks related to the cryptocurrency. «Given bitcoin's high price volatility, its use as a legal tender entails significant risks to consumer protection, financial integrity, and financial stability,» the IMF said in its staff concluding statement of the 2021 Article IV mission to El Salvador. «Its use also gives rise to fiscal contingent liabilities.» The IMF regularly undertakes Article IV missions to member countries to consult with government officials before they request to use IMF resources.
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