El Salvador has rescinded Bitcoin’s status as a full legal tender in order to close a deal with the International Monetary Fund (IMF), leaving Bitcoin (BTC) advocates split over what this means for adoption in the country.

El Salvador’s Congress passed a bill on Jan. 29 to amend key aspects of its Bitcoin law. The changes align with conditions set by the

El Salvador has rushed to approve an amendment that will keep it compliant with the terms of its $1.4 billion IMF loan.

El Salvador's legislative assembly has passed a major reform to its bitcoin law, a move aimed at aligning the country's Cryptocurrency framework with broader financial goals, particularly following an agreement with the International Monetary Fund .

El Salvador has quickly passed a bill to amend its Bitcoin law, making it voluntary for businesses to accept the asset as payment, Reuters reported.

El Salvador Trims Bitcoin Law After IMF Agreement. El Salvador has agreed to scale back its pro-Bitcoin legislation after striking a deal with the IMF, making Bitcoin acceptance v

El Salvador’s Congress has swiftly approved a proposal from President Nayib Bukele to reform the country’s Bitcoin law after its IMF deal.