El Salvador's decision to adopt Bitcoin as legal tender was historic, yet it's facing backlash as the possibility of rolling back mandatory usage arises due to IMF negotiations.
With the IMF's insistence on changing the Bitcoin Law and making digital currency usage voluntary, the revolutionary framework set by President Bukele might unravel, leading to significant economic restructuring.
The ambition behind El Salvador's Bitcoin adoption included not just innovation, but a strategy to bolster state reserves and modernize its financial structure amid economic challenges.
As El Salvador seeks international financial support to tackle its economic difficulties, the insistence from the IMF highlights the precariousness and risks tied to the Bitcoin initiative.
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