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IMF warns El Salvador of bitcoin-related risks in new statement

El Salvador should not use bitcoin as legal tender due to the financial and consumer risks it poses, International Monetary Fund (IMF) staff wrote in a concluding statement related to a mission in the Central American country.  “Given Bitcoin’s high price volatility, its use as a legal tender entails significant risks to consumer protection, financial integrity, and financial stability,” the November 22 IMF communication states. “Its use also gives rise to fiscal contingent liabilities. Because of those risks, bitcoin should …