El Salvador’s government rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin’s use as legal tender and dissolve Fidebitcoin, which is a $150 million trust fund created for the Bitcoin law. Country’s Finance Minister Alejandro Zelaya said that bitcoin is an issue of “sovereignty” and no international organization cannot make them do anything.

IMF also recommended that El Salvador, which adopted bitcoin as a national currency with legal tender status in September 2021, charge fees for the use of Chivo, its digital wallet, as well as stop giving away $30 in bitcoin to anyone signing up to Chivo.