El Salvador's Bitcoin Policy Faces IMF Hurdle on New Purchases

The International Monetary Fund (IMF) has issued guidelines for El Salvador's Bitcoin policy, stating that no further purchases of BTC will be made using public funds.

According to the IMF, the recent acquisition of Bitcoin by El Salvador was made possible through private donations, not public financing. This means that the country can continue holding its current 7,764 BTC holdings but will not be able to accumulate any additional coins using government finances.

The IMF's decision is part of a $1.4 billion funding program that El Salvador is participating in, which includes a condition that prohibits the use of public funds for Bitcoin purchases or mining.

The policy change does not affect the current value of El Salvador's Bitcoin holdings, which are worth around $627 million at today's market prices.