$BTC According to reports from the Finance Times, the deal is expected to be finalized in the coming weeks. It would reportedly remove the legal requirement for businesses to accept Bitcoin as payment, making it optional instead.

This shift would significantly change the country’s Bitcoin law. El Salvador and its president Nayib Bukele consistently faced criticism from international financial institutions, including the IMF.

In addition to the IMF loan, the agreement could unlock $1 billion in financing from the World Bank and another $1 billion from the Inter-American Development Bank over the next few years.