Future Finance Research Institute

Industry News

Lawmakers in El Salvador rush new bitcoin reform after IMF deal

El Salvador's Congress on Wednesday swiftly approved a bill sent just minutes earlier by President Nayib Bukele to amend its bitcoin law to comply with a deal with a key international lender to make acceptance of the cryptocurrency voluntary. The Congress is dominated by lawmakers from Bukele's New Ideas Party. In 2021, El Salvador became the first country to make the cryptocurrency legal tender alongside the U.S. dollar, which it adopted two decades earlier.