El Salvador’s lawmakers are being urged by members of the International Monetary Fund executive board to cease recognizing the International Monetary Fund as legal tender

IMF reportedAccording to Tuesday’s statement, digital payments have the potential of increasing financial inclusion in Central American countries. However, Bitcoin was not recommended.BTC) as legal tender carried “large risks” related to financial stability, financial integrity and consumer protection. The executive board directors urged El Salvador authorities to “narrow the scope of the Bitcoin law by removing Bitcoin’s legal tender status,” also expressing concern about the potential risks of issuing Bitcoin-backed bonds.