IMF Compliance Goals for Bitcoin in El Salvador Face Challenges

According to Foresight News, the International Monetary Fund (IMF) and El Salvador's agreement on Bitcoin compliance goals is encountering obstacles. These objectives are designed to ensure macroeconomic stability and adherence to anti-money laundering regulations. Since its launch, the official cryptocurrency wallet, Chivo, has faced technical issues, cybersecurity concerns, and user dissatisfaction. Reports of wallet vulnerabilities have raised questions about the effectiveness of anti-money laundering and counter-terrorism financing measures. Failure to demonstrate compliance could jeopardize El Salvador's $1.3 billion loan from the IMF and affect the credibility and investment interest in the country's Bitcoin initiative.