El Salvador Adapts Bitcoin Policy Amidst $1.4 Billion IMF Loan Agreement
El Salvador has finalized an IMF loan agreement that will render Bitcoin payments voluntary and limit government interference in Bitcoin affairs. Concurrently, Coinbase is allowed to delist wBTC, and Exodus witnessed considerable market gains on its first trading day. Additionally, Fraction AI secured funding, and Grayscale Bittensor Trust is now available to accredited investors.
El Salvador has reached an agreement for a loan with the International Monetary Fund (IMF), stipulating that the acceptance of Bitcoin as payment will become voluntary. Furthermore, the government plans to reduce its involvement in Bitcoin-related initiatives, a significant shift in its cryptocurrency policy. This move aims to enhance financial stability and address economic challenges faced by the nation.
In related developments from December 19, 2024, a California court made a decisive ruling allowing Coinbase to delist wrapped Bitcoin (wBTC). Additionally, BiT Global’s request for a temporary injunction was denied.
Among noteworthy market movements, cryptocurrency wallet provider Exodus experienced a remarkable increase of over 37% on its first day of listing, reaching a peak of $64.50.
Furthermore, the crypto and AI enterprise Fraction AI successfully completed a Pre-Seed financing round, raising $6 million, with significant participation from Spartan Group and Symbolic Capital. Metaplanet also announced its shares are now trading on the U.S. OTCQX market under the ticker symbol $MTPLF.
In other news, the Grayscale Bittensor Trust has now opened its doors to accredited investors. Finally, World Liberty made a notable transaction using 250,000 USDC to acquire 231,726 ENA just four hours ago.
In conclusion, El Salvador’s agreement with the IMF to make Bitcoin payments voluntary marks a pivotal change in its cryptocurrency approach, prioritizing economic stability. In parallel, significant developments occurred within the crypto market, including legal decisions affecting Coinbase and market activities from various cryptocurrency firms. These changes reflect the dynamic nature of the digital asset landscape.
Original Source: www.panewslab.com
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