The IMF's $1.4 billion loan to El Salvador requires the country to revise its Bitcoin law, particularly removing the mandate for merchants to accept Bitcoin.
The obligation for Salvadoran merchants to accept bitcoin is being lifted, an important change that acknowledges Bitcoin should adopt voluntarily rather than through coercion.
While it's disappointing that citizens can no longer pay taxes in bitcoin, the practicality of tax payments in USD may not significantly impact the economy.
The removal of the Chivo wallet requirement is welcomed, as it acknowledges that the open source community can create better tools for digital currency.
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