The International Monetary Fund El Salvador and Arizona

I recently mentioned that in the midst of the current price collapse, and a bit to make matters worse the International Monetary Fund recently urged El Salvador to withdraw Bitcoin as legal tender, an action that can undoubtedly further impact the entire cryptocurrency market.

While for the International Monetary Fund the adoption of a cryptocurrency as legal tender poses serious risks to financial and market integrity, El Salvador's actions have now been joined by the state of Arizona in the United States, whose legislature is considering adopting bitcoin as legal tender.

Certainly they are separate actions, more however, as I rightly mentioned in my previous post these coercive actions by the International Monetary Fund will probably only limit the growth of the cryptocurrency market in the medium term but will not stop the growth of cryptocurrencies.

In the context of Arizona in the United States, the proposal is driven by Wendy Rogers (incumbent Senator), who has previously stated her position in favor of bitcoin and cryptocurrencies.

As published in the U.S. press, regulators and companies in the cryptocurrency industry in the U.S. are awaiting the publication of a possible executive order in mid-February that would provide guidelines for the regulation of bitcoin, so it is suspected that the U.S. will not ban bitcoin and cryptocurrencies.