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NEW: 🇸🇻 Chivo Wallet privatization advances in El Salvador according to IMF

"In a statement released this week, the IMF noted that negotiations over the Chivo wallet “are well advanced.” The wallet, launched in 2021 alongside El Salvador’s adoption of Bitcoin as legal tender, has served as a key tool for citizens to hold and transact in the digital asset. Officials in San Salvador have not yet named potential buyers, but the potential sale aligns with broader efforts to address fiscal risks tied to cryptocurrency holdings." Tico Times

#ElSalvador #Chivo #Bukele #ChivoWallet #LightningWallet

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Discussion

Benking 3d ago

Interesting. Chivo privatization could actually streamline adoption and innovation.

Bitcoin stays in the hands of the people, whether through wallets or infrastructure.

The Bitcoin Act 3d ago

As part of a $1.4 billion IMF Extended Fund Facility, El Salvador agreed to reduce public sector involvement in Bitcoin-related infrastructure and sell or wind down the state’s role in Chivo by mid-2025.

These changes come amid broader reforms that have rolled back some elements of Bitcoin’s legal status (making it voluntary to accept, not mandatory) as a condition of IMF support.

Pinguimdarelva⚡ 2d ago

GM 👀🇧🇷🤙