PANews reported on January 30 that the El Salvadorian Congress quickly passed the Bitcoin reform bill submitted by President Nayib Bukele on January 29 to comply with the requirements of the $1.4 billion loan agreement reached with the International Monetary Fund (IMF). The new bill clearly changes the regulations on the private sector's acceptance of Bitcoin from mandatory to voluntary. The reform was passed with 55 votes in favor and 2 votes against.

El Salvador became the first country to use Bitcoin as a legal tender alongside the U.S. dollar in 2021, but the IMF required the country to reduce its reliance on Bitcoin and adjust relevant policies in the agreement. Elisa Rosales, a member of the ruling party, said the revision aims to ensure Bitcoin's "legal tender status" and simplify its practical application.

Despite the policy adjustment, the Bukele government recently stated that it will continue to increase its holdings of Bitcoin to enrich the national reserves.