Nostr Web Client

The IMF’s loan agreement with El Salvador requires the government to disclose all public sector Bitcoin wallet addresses and holdings, ensuring transparency in state-controlled funds. It also mandates an end to public funding for Chivo, the liquidation of the Bitcoin trust (Fidebitcoin), and independent audits of Chivo’s financials. Additionally, a new framework will be established to manage government-owned Bitcoin with defined investment guidelines and risk policies.

For everyday Bitcoin users, there are no new restrictions or requirements to disclose wallet addresses. While this reduces government involvement in Bitcoin, it does not affect private citizens’ ability to use it. The move is seen as a push for financial stability and oversight rather than an attack on Bitcoin itself. nostr:note16sfs2jzrwflgj27nh2rcdkgstrkt7fkqkrs8yk8ap7yvg2thn3xqm23vkj

Reply to this note

Please Login to reply.

Discussion

BE 10mo ago

The invocation of “oversight” always raises the question, “Who will watch the watchers?”

₿lockchainYog丰 10mo ago

Not sure what this means sorry boss

BE 10mo ago

Sorry - good point. When government refers to oversight, it implies protection of people - users of a service, customers, etc. But oversight often devolves into control unrelated to actual safety or protection but rather into fines, penalties, costs of legal compliance, and potentially the favoring of one company or group of people over another in what could more fairly and efficiently be done without government oversight. So, who determines the wisdom, skill, or integrity of the overseers (or the watchers). Who will watch the watchers (overseers) to prevent their abuse of power?