Uptake was only 8 percent. From RT at swentr.site:
The reform has reportedly been adopted to comply with conditions set by the IMF for a $1.4 billion loan
© social media
El Salvador’s Congress has approved a reform revoking Bitcoin’s status as legal tender, in a reversal of the country’s landmark 2021 decision, according to media reports. The amendments to its Bitcoin law come after a loan deal with the International Monetary Fund, which requires that the acceptance of the cryptocurrency be made voluntary in the country.
In 2021, El Salvador became the first country to adopt cryptocurrency as legal tender, officially recognizing Bitcoin alongside the US dollar, which had been the nation’s primary currency for two decades.
The legislative changes passed on January 30 removed Bitcoin’s mandatory acceptance in El Salvador, making its use entirely voluntary. The reform was approved with 55 votes in favor and two against.
The amendments reportedly come after nearly two years of pressure from the IMF, which urged the country to mitigate Bitcoin-related financial risks in exchange for a $1.4 billion loan, which was agreed to in December, to stabilize the country’s struggling economy.
