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[Niftyicon]

Sequel to El Salvador's declaration of adopting bitcoin as a legal tender in the country, btcpeers.com has gathered that this news didn't sit well with the International Monetary Fund (IMF). Gerry Rice from IMF has said that 'Cryptocurrencies are likely to pose regulatory risks'.

How this concern from IMF will affect El Salvador's decisions remains to be seen because the situation is still being monitored to see how it goes.

 

[Wisdom01]

yes cryptocurrency comes with great risk ,that's when elsavador president was acquiring more Bitcoin with the country reserve,I actually didn't support the move in the first place, before acquiring it's best to only acquire what you can afford to lose

 

[Ben Kempton]

yes cryptocurrency comes with great risk ,that's when elsavador president was acquiring more Bitcoin with the country reserve,I actually didn't support the move in the first place, before acquiring it's best to only acquire what you can afford to lose

I guess that El Salvador must have been realising the advice given by the IMF now. El Salvador simply ignored many warnings that were issued by the IMF at that time. In the month of January, IMF once again tried to convince the government of El Salvador to reconsider its stance regarding Bitcoin as a legal Tender.

 

[Wisdom01]

I guess that El Salvador must have been realising the advice given by the IMF now. El Salvador simply ignored many warnings that were issued by the IMF at that time. In the month of January, IMF once again tried to convince the government of El Salvador to reconsider its stance regarding Bitcoin as a legal Tender.

yeah exactly they should have listened to imf , I think elsavador is actually a third tier country ,and their economy is not to fit to be able to contain the volatility of cryptocurrency ,if Incase it goes negative ,I think the mistake the president made was looking at the only bearish side of cryptocurrency