El Salvador circumvents IMF restrictions and continues to buy bitcoin daily
2025-04-29 22:48:00
Although the government suspended bitcoin-related activities in order to obtain a $1.40 billion loan, El Salvador still quietly bought through the bitcoin office, adding 32 coins last month, and now holds more than 6,160 bitcoins, worth about $584 million. The IMF confirmed that the country's financial sector has fulfilled its commitment to "no new holdings", but the bitcoin office "operates outside these fiscal definitions" and circumvents restrictions through "technical loopholes." To unlock IMF funds, El Salvador will eliminate bitcoin as a means of compulsory payment and taxation from May 1. President Bukele remains "committed to the bitcoin strategy."
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