IMF Sees Risks After El Salvador Makes Bitcoin Legal Tender (1)

El Salvador’s adoption of Bitcoin as legal tender may imply a series of risks and regulatory challenges, International Monetary Fund spokesman Gerry Rice said Thursday.

“Adoption of Bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis so we are following developments closely and will continue our consultation with authorities,” Rice said, speaking in Washington. “Crypto assets can pose significant risks and effective regulatory measures are very important when dealing with them.”

An IMF team is conducting virtual meetings with El Salvador on its Article IV review of the country and a ...