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The Independent UK
The Independent UK
National
Namita Singh

IMF urges El Salvador to abandon bitcoin as legal tender

International Monetary Fund El Salvador
AFP via Getty Images

The International Monetary Fund has urged El Salvador to drop bitcoin as legal tender in the country, as it called for stricter regulation of e-wallets.

The IMF said the adoption of cryptocurrency as legal tender “entails large risks for financial and market integrity, financial stability, and consumer protection”.

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