The adoption of cryptocurrency as a means of payment raises a number of macroeconomic, financial and legal issues, emphasized in the International Monetary Fund.
There are a number of economic, financial and legal problems in the recognition of bitcoin as an official means of payment in El Salvador, said the representative of the International Monetary Fund (IMF) Jerry Rice. Reuters . He added that the organization is monitoring this situation and is continuing its dialogue with the El Salvadorian authorities.
El Salvador President Nayib Bukele this week signed a law that equates cryptocurrency with the US dollar (the country’s main currency). According to the new rules, prices in the country can be set in bitcoin, it will also be possible to pay tax deductions in digital assets.
Also, the head of state instructed to start mining bitcoin using the energy of volcanoes. El Salvador begins the creation of a full-scale mining hub using geothermal energy.