El Salvador’s government rejected the International Monetary Fund’s request to make Bitcoin legal cash in the Central American country last Monday. “No foreign organization is going to force us to do anything, anything at all,” Treasury Minister Alejandro Zelaya raged. Last Monday, the IMF advised El Salvador to dissolve the $150 million trust fund it established when it made cryptocurrencies legal tender and restore any remaining cash to the government’s budget. Concerns regarding the volatility of Bitcoin values, as well as the prospect of criminals adopting the cryptocurrency, were raised by the agency.
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