IMF warns El Salvador after ‘bitcoin city’ announcement

IMF to El Salvador: "bitcoin should not be used as a legal tender"

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IMF warns El Salvador after 'bitcoin city' announcement   The International Monetary Fund (IMF) has warned El Salvador against using bitcoin as legal tender due to various risks associated with cryptocurrency. The warning came one day after Salvadoran President Nayib Bukele announced his plan to build a "bitcoin city" powered by a volcano and financed by bitcoin bonds. The IMF proceeded to recommend "narrowing the scope of the bitcoin law" and urged El Salvador to strengthen "the regulation and supervision of the new payment ecosystem." Read more Price Update   Grand jackpots, unique bonuses, stunning graphics - these slots have it all! Take your pick from the most played games from Wazdan! Play Now In the news US senator moves to repeal infrastructure bill's attack on crypto U.S. Senator Ted Cruz has introduced a bill to repeal the $1 trillion infrastructure package's crypto provision, which he said is a "devastating attack" on the crypto industry. "I urge my colleagues in the Senate to repeal this harmful language that will create regulatory uncertainty and in turn an unnecessary barrier to innovation," he said. Number of Africa-based users on Kucoin platform surges Cryptocurrencies already have established, practical use cases for economic empowerment in Africa beyond mere speculation. However, as Johnny Lyu, CEO of Kucoin observes, many African cryptocurrency users and holders are now starting to become interested in the trading side of things as well. 25 million Bitcoin.com wallets created! This week marked the 25 millionth crypto wallet created in the Bitcoin.com Wallet since launching in June 2017. For context, it took almost two years to reach the first five million, but five million wallets were created in just the last five months. In other words, adoption of the Bitcoin.com Wallet, like adoption of crypto more broadly, is going parabolic. Sponsored by Bybit Flexible Staking is now live on Bybit's ByFi Center. Earn guaranteed yields with stable APYs of up to 4.99%* when you stake BTC, ETH, USDT, and USDC. Plus, enjoy the freedom of unstaking your staked tokens at any point in time. You can start with as little as 0.01 ETH, 0.001 BTC, 50 USDC, and 50 USDT. Start earning now! *Terms and conditions apply.     @2021 Saint Bitts, LLC 858 Zenway Blvd, P.O. Box 1830, Frigate Bay, Saint Kitts and Nevis  This email was sent to yogyabiz.bitcoin@blogger.com. To unsubscribe or manage your subscriptions click here. Have feedback for us? Submit here.