El Salvador Seeks World Bank Help For Bitcoin Implementation

by
msmash
from Slashdot on (#5K5PD)
El Salvador has sought assistance from the World Bank as it implements its move to use bitcoin as a parallel legal tender alongside the U.S. dollar, Finance Minister Alejandro Zelaya said on Wednesday. From a report: Zelaya said the Central American country has tapped the World Bank for technical assistance on rules and implementation of bitcoin. Zelaya also said ongoing negotiations with the International Monetary Fund have been successful, though the Fund said last week it saw "macroeconomic, financial and legal issues" with the country's adoption of bitcoin. read more Zelaya said on Wednesday the IMF is "not against" the bitcoin implementation. Further reading: El Salvador saw bitcoin-based remittances rise 300% year over year in May.

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