El Salvador Bitcoin Law Don Change: From Forceful Use to Focus on Asset Under IMF Deal
El Salvador, di fest kontri wey mek Bitcoin legal tender, don update dia Bitcoin law. Dis one follow $1.4 billion agreement wit IMF and e show say dem dey shift from force Bitcoin use to one wey be voluntary and based on asset. Di law wey dem change still see Bitcoin as legal tender but dem don komot am from di list of wetin dem dey call 'currency'. Dis change fit affect how merchant dem dey accept am, bicos business no need to dey accept Bitcoin again, and dem no fit use am pay tax. Di government dey fokus on how to keep Bitcoin reserve while dem dey reduce how dem dey support am as currency. Dis change dey in line wit wetin most pipo for di world dey tink and e show say dem dey change strategy bicos of international agreement. For crypto trader dem, di tin wey e mean fit be say dem go need to adjust to less government support and check di long-term role of Bitcoin for El Salvador again. Even wit dis changes, Bitcoin still no dey pay capital gains tax, wey show say dem dey see am as investment instead of currency.
Neutral
Di change wey dey El Salvador Bitcoin law show say market no go too affect as Bitcoin no be must-use money again, dem don change am to be something wey people go dey use by choice. Di agreement wey dem get with IMF make government no force people to dey use Bitcoin. Even though market fit think say dis one no good because government no dey support am like before, di fact say dem no dey collect tax ontop Bitcoin profit still make am dey attractive to invest on. So, di mixed signals make am dey neutral. Short-term market fit dey careful, but wetin go happen for long-term depend on how business take adapt to di new way and wetin dey happen for international level.