In this new IMF loan package, President Bukele had to concede aspects of the Bitcoin Law, highlighting a shift away from rigid legal tender mandates in El Salvador.
The requirement for businesses to accept Bitcoin was a coercive measure, and the state-run wallet Chivo proved to be ineffective, pointing to the need for better alternatives.
While some criticize Bukele for these changes, it's important to understand that his primary responsibility is to prioritize the well-being of the Salvadoran people, not just Bitcoin.
Bukele sees Bitcoin as merely a tool among many options to address serious issues in El Salvador, such as poverty and societal instability.
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