The adoption of cryptocurrency as a means of payment raises a number of macroeconomic, financial andlegal issues, stressed in the International Monetary Fund.
In recognizing bitcoin as an official paymentmeans in El Salvador there are a number of economic, financial and legal problems, said the representative of the International Monetary Fund (IMF) Jerry Rice, reports Reuters. He added that the organization is monitoring this situation and is continuing its dialogue with the El Salvadorian authorities.
El Salvador President Nayyib Bukele this weeksigned a law that equates cryptocurrency to the US dollar (the main currency in the country). According to the new rules, prices in the country can be set in bitcoins, and tax deductions can also be paid in digital assets.
Also, the head of state instructed to start mining bitcoins using the energy of volcanoes. El Salvador begins the creation of a full-scale mining hub using geothermal energy.
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