🚨 EL SALVADOR IS LAUNCHING BITCOIN BANKS
✅️ The office dedicated to Bitcoin under the government of El Salvador has announced the establishment of Bitcoin banks in the country.
▶️ El Salvador recently made an agreement with the International Monetary Fund that has mandated the reduction (and in several cases, the closure) of various Bitcoin-related activities. This closure has also led to various mysteries, such as the purchases of BTC that continue to be announced, but which, according to the International Monetary Fund, would only be internal transfers.
▶️ It is certain that El Salvador is clearly the country of Bitcoin since it was the first state in the world to accept $BTC as legal tender (or almost).
▶️ It remains to be seen how this type of initiative will fit with the obligations that the Central American country has undertaken towards the International Monetary Fund.
▶️ In order to access the necessary funding to restore public finances (actually in disarray for decades and not just since the pro-BTC shift) and to plan investments, the country led by Bukele has committed to limiting state-related Bitcoin activities.
▶️ Such limitation would also concern the country's ability to continue with the daily $BTC purchase plan, purchases that have been repeatedly reaffirmed by the same office but which the IMF would consider mere internal movements.
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