El Salvador Walks Back Bitcoin Legal Tender Status

Four years after adopting Bitcoin as legal tender, El Salvador has amended its Bitcoin Law, removing its status as legal currency but maintaining it as legal tender. This move, part of a $1.4 billion loan agreement with the IMF, aims to mitigate financial risks associated with Bitcoin's volatility. Despite the change, the Salvadoran government insists it remains a "Bitcoin country" and will continue holding Bitcoin reserves.