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🌙 El Salvador Rushes to Approve Bitcoin Law Amendment to Comply With IMF Loan Terms

El Salvador agreed to stop accepting tax payments in BTC and to “gradually unwind” the Chivo wallet, a government-issued crypto wallet.

Author

Mike Gavela
January 30, 2025

In partnership with

Crypto Roundup - January 30

El Salvador is making significant adjustments to its Bitcoin policies to secure a $1.4 billion IMF loan. The government has amended its Bitcoin Law to make its use voluntary for the private sector, moving away from its initial mandatory legal tender status. This policy shift is aimed at stabilizing the country's financial situation to meet IMF requirements. Meanwhile, the political action committee FairShake, focused on cryptocurrency advocacy, has accumulated $116 million to support crypto-friendly candidates in the upcoming 2026 U.S. elections. In financial markets, Bitcoin's price has surged to $105,000 as fears about aggressive U.S. Federal Reserve rate hikes begin to fade, signaling a renewed investor confidence in cryptocurrencies amid a more stable economic outlook.

Top Stories

  • El Salvador modifies Bitcoin law to comply with IMF conditions for a significant financial package.

  • Political group FairShake gears up with substantial funding for the 2026 elections, promoting crypto-friendly policies.

  • Bitcoin price soars to $105,000, buoyed by easing concerns over U.S. Federal Reserve policies.

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TOP STORIES

El Salvador Rushes to Approve Bitcoin Law Amendment to Comply With IMF Loan Terms - Decrypt

El Salvador has rushed to approve an amendment that will keep it compliant with the terms of its $1.4 billion IMF loan.

decrypt.co/303626/el-salvador-bitcoin-law-amendment-imf-loan

Crypto super PAC Fairshake has $116 million on hand to grow industry's influence in 2026 election

Major backers like Coinbase, a16z, Jump Crypto, Uniswap Labs, and Ripple Labs have doubled down on their commitment to electing pro-crypto candidates.

www.cnbc.com/2025/01/30/crypto-pac-fairshake-has-116-million-on-hand-for-2026-elections.html

Bitcoin Jumps to $105,000 as Fed Fears Fade - Decrypt

Bitcoin rose to $105,000 following the Fed's decision to hold rates steady, with Chair Jerome Powell signaling openness to crypto banking.

decrypt.co/303515/bitcoin-jumps-to-105000-as-fed-fears-fade

FUNDRAISING

OTHER HEADLINES

Venmo Co-Founder Releases Fair-Launch Token for New Platform, JellyJelly - "The Defiant"

The argument for Pump.Fun serving as a platform to launch an ICO (initial coin offering) is picking up steam again after Venmo’s co-founder, Iqram Magdon-Ismail, launched a token on the memecoin launchpad alongside venture investor Sam Lessin.

thedefiant.io/news/nfts-and-web3/venmo-co-founder-releases-fair-launch-token-for-new-platform-jellyjelly

Tether integrates USDt on Bitcoin’s Lightning Network

Tether's USDt joins Bitcoin's Lightning Network for faster, low-cost transactions, enhancing financial applications and global reach.

cryptobriefing.com/usdt-lightning-network-integration

Ex-SEC counsel expects token classifications, custody guidance soon

Adrienne Gurley outlines what she believes will be key near-term priorities for the securities regulator.

blockworks.co/news/key-sec-regulatory-expectations

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