El Salvador strikes $1.4bn IMF deal after scaling back Bitcoin policies

El Salvador has agreed a $1.4bn loan deal with the International Monetary Fund after agreeing to scale back its bitcoin policies, which the IMF said reduces the risks of the project. Under the reforms, businesses will be free to decide whether to accept bitcoin, while public sector involvement in bitcoin activities and purchases will be confined. The deal still needs approval from the IMF's executive board. The IMF had previously opposed President Nayib Bukele's crypto-friendly policies, warning they could obstruct financial assistance.