El Salvador’s Congress has rushed through changes to the country’s Bitcoin strategy to comply with IMF demands, according to Reuters.

Lawmakers approved the bill within minutes of receiving it from President Nayib Bukele. His party, “New Ideas,” holds a majority in Congress.

Back in 2021, El Salvador made history by recognizing Bitcoin as legal tender. Businesses were required to accept BTC, and the government incentivized adoption by handing out $30 in Bitcoin to users signing up for the Chivo wallet. The state also began accumulating BTC and even got into mining.

In December 2024, El Salvador secured a $1.4 billion loan deal with the IMF, with additional funding pushing the total package beyond $3.5 billion.

As part of the agreement, the IMF demanded several policy adjustments:

• Gradually reducing the government’s involvement in Chivo

• Ensuring all taxes are collected exclusively in USD (the country’s official currency)

• Limiting Bitcoin transactions in the public sector

• Keeping BTC acceptance voluntary for businesses

Presenting the changes, lawmaker Elisa Rosales called them necessary to maintain Bitcoin’s legal status while making it “more practical” for businesses and citizens. The reform passed with 55 votes in favor and two against.

Since the IMF deal, El Salvador has significantly ramped up Bitcoin purchases. National Bitcoin Office head Stacy Herbert hinted the accumulation could accelerate further.

The government continues stacking BTC, but purchases are now less structured—moving away from its previous 1 BTC-per-day strategy.