the crypto experiment

El Salvador remains world’s leading government-led crypto experiment

El Salvador remains the world’s leading government-led crypto experiment: after President Nayib Bukele recognized Bitcoin as legal tender alongside the dollar in 2021, the country has made cryptocurrency a part of its economic and political identity. However, in January 2025, the country’s parliament swiftly amended the Bitcoin law following a $1.4 billion agreement with the IMF: accepting BTC became voluntary for the private sector, while the government made it clear that it would not abandon its strategy of accumulating Bitcoin in reserves.