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IMF urged El Salvador to remove bitcoin's legal tender status

NEW YORK, Jan 25 (Reuters) - The International Monetary Fund’s board “urged” El Salvador to do away with its move to make bitcoin a legal tender, while calling for strict regulation of the country’s e-wallet.

IMF board members “urged the authorities to narrow the scope of the Bitcoin law by removing bitcoin’s legal tender status,” the IMF said in a statement following a yearly consultation.

Some board members were also concerned about the risks associated with El Salvador’s expected issuance of bitcoin-linked bonds, the IMF said. (Reporting by Rodrigo Campos Editing by Chris Reese)

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