El Salvador’s Congress passed a legislative amendment on Wednesday to alter the country’s Bitcoin (CRYPTO: BTC) policy, making its acceptance voluntary rather than mandatory.
What Happened: The move, introduced by President Nayib Bukele, was approved as part of efforts to meet conditions set by the International Monetary Fund in a $1.4 billion loan agreement, according to Reuters.
Under the new framework, Bitcoin remains legal tender, but businesses will no longer be obligated to accept it as a means of payment.
The IMF had previously recommended limiting El Salvador’s exposure to Bitcoin and making its use optional in the private sector.
El Salvador became the first nation to …
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