El Salvador’s treasury minister, Alejandro Zelaya recently spoke about pressure the nation has received from the International Monetary Fund over plans to make Bitcoin (
$76,015.00 ) legal tender. Zelaya says that the IMF’s words will not change the minds of policymakers. The tiny nation that sits south of both Honduras and Guatemala says that adopting Bitcoin ( $76,015.00 ) is an issue of “sovereignty,” noting that all “countries are sovereign nations, and they take sovereign decisions about public policy.” Moreover, Zelaya said that the country complies with all transaction and money laundering rules, making this move safe for all involved. For its part, the IMF has criticized this move saying that making a cryptocurrency legal tender carries quite a lot of risk, undermining financial stability, financial integrity, and consumer protection. Notably, El Savlador’s President, Nayib Bukele is optimistic about Bitcoin ( $76,015.00 ) adoption, predicting a “gigantic price increase” this year. At press time, the Salvadoran Colone was down against the dollar, priced at only 11.42 cents.
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