As a condition of a new IMF loan package, President Bukele of El Salvador has had to concede three aspects of the Bitcoin Law passed in 2021:

A legal tender mandate requiring businesses to accept BitcoinShutting down Chivo, the state run wallet and on/off ramp serviceNo longer accepting tax payments in bitcoin

Ultimately everything except the last one is a positive change. Legal tender laws are ultimately coercive, and in my opinion shouldn’t exist. Chivo…

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