May 28th, 2025

IMF says El Salvador to make ‘efforts’ to stop Bitcoin buys with $120M payments deal

The International Monetary Fund said it has reached an agreement with El Salvador to pay the country $120 million following an initial review of its $1.4 billion loan agreement struck last year.

The IMF said on May 27 that as part of the deal, El Salvador will need to fulfill its prior obligations around limiting further government involvement in Bitcoin, and it will have to cease its involvement in the Chivo wallet by the end of July.

“On Bitcoin, efforts will continue to ensure that the total amount of Bitcoin held across all government-owned wallets remains unchanged,” the global lender said.

The planned payout, subject to IMF executive board approval, is part of a larger $1.4 billion, 40-month loan deal struck in December, which saw El Salvador agree to confine its Bitcoin ambitions.

On March 3, the IMF reiterated its stance that El Salvador should stop accumulating Bitcoin and not pursue other Bitcoin-related activities.

Despite the IMF’s request, El Salvador’s president, Nayib Bukele, has stated that his government will continue to acquire one BTC per day as part of the nation’s Bitcoin treasury strategy.

El Salvador again defies IMF

Shortly after the IMF’s May 27 announcement, El Salvador’s Bitcoin Office posted to X that the country had once again purchased more Bitcoin.

The country’s official Bitcoin tracker shows that El Salvador is continuing with Bitcoin-buying through the Bitcoin Office, which has accumulated 30 BTC in the past 30 days.

Currently, El Salvador’s Bitcoin reserve stands at 6,190.18 BTC.

Last week, Bukele took to the social media platform X to reveal that the nation’s Bitcoin treasury is sitting at an unrealized profit of $386 million, a 132% gain on its total Bitcoin investment.

In April, Rodrigo Valdes, director of the Western Hemisphere Department at the IMF, said that the country is complying with the IMF’s performance criteria.

Author and intergovernmental blockchain adviser Anndy Lian suggested that the country could maintain technical compliance by purchasing Bitcoin through non-government entities.

Source: https://cointelegraph.com/news/imf-el-salvador-efforts-stop-bitcoin-buys-120m-payments-deal

Anndy Lian

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com

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May 24th, 2025

Exponential currency debasement: ‘You don’t own enough crypto, NFTs’

Cryptocurrencies and non-fungible tokens (NFTs) can help investors protect their eroding purchasing power during an era of exponential currency debasement, according to analysts and industry leaders.

Investing in digital assets is becoming increasingly important in the “world of the exponential age and currency debasement,” according to Raoul Pal, founder and CEO of Global Macro Investor.

“You don’t own enough crypto. When you do, you don’t own enough NFT’s, as art is upstream of wealth. Both will never be this cheap again,” Pal said.

NFTs are “the single best long term store of wealth I know and you get to buy it before network effects kick in,” he added in another response.

“There is some validity to the statement that NFTs, and in extension art, become a vehicle for the wealthy once a certain level of wealth is reached,” wrote Nicolai Sondergaard, research analyst at Nansen, calling it a “natural move” for asset diversification.

“For traders and investors, further down the wealth curve, NFTs are partially about speculating on future returns,” he told Cointelegraph, adding that NFTs also benefit from the allure of strong communities, beyond just wealth creation.

Art NFTs may see a resurgence as “digital ownership gains acceptance among younger, tech-savvy cohorts,” if collections manage to move past the “speculative fervor,” according to Anndy Lian, author and intergovernmental blockchain expert.

Still, Lian said broader adoption depends on blockchain networks improving scalability and security to “instill confidence.” He added that art NFTs “must transcend hype, anchoring value in cultural significance or utility.”

Some digital artists made millions of dollars through NFTs. Digital artist Mike Winkelmann, also known as Beeple, auctioned his “Everydays: The First 5000 Days,” NFT artwork for a record-breaking $69 million in March 2021.

Meanwhile, the largest NFT collections continue to lack upside momentum, unable to recover toward their 2021 highs.

CryptoPunks, the largest NFT collection by market capitalization, is currently trading at a floor price of 46 Ether, 59% down from its peak of 113.9 ETH, recorded on Oct. 9, 2021, NFTpricefloor data shows.

NFT market set for recovery in early 2026, after Bitcoin cycle top

Despite the temporary lack of interest, NFTs could be poised to see more momentum after the profits from Bitcoin’s cycle top start rotating into other digital assets.

“That likely puts the peak of the NFT market in Q1 2026, but don’t expect a repeat of the 21/22 euphoria that we saw in NFTs,” according to Yehudah Petscher, strategist at CryptoSlam NFT data platform and SlamAI.

“We’re likely an entire cycle away from NFTs having a parabolic run,” Petscher told Cointelegraph, adding:

“There is a perfect storm brewing for 2030: BTC at $1 million, a matured metaverse, AI reshaping labor economics (whether through universal basic income or universal high income, falling production costs, etc), AR/VR adoption, and NFT ownership equaling ownership of a brand.”

However, the previous NFT bull market was driven largely by metaverse speculation and wealthy traders, Petscher noted — factors that are mostly absent in the current cycle.

Source: https://cointelegraph.com/news/currency-debasement-own-enough-crypto-nfts

Anndy Lian

www.anndy.com

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May 15th, 2025

South Korean presidential candidates support legalization of Bitcoin ETFs

South Korea may be poised to follow Hong Kong’s lead in legalizing spot Bitcoin exchange-traded funds (ETFs), as top presidential candidates signal support for institutional crypto adoption.

However, analysts remain cautious about the timeline for actual policy implementation, reports Cointelegraph.

On May 14, CryptoQuant CEO Ki Young Ju wrote that “all three major South Korean presidential candidates support Bitcoin ETFs and institutional investment,” underscoring a rare consensus on crypto reform. At present, South Korea bans institutional access to crypto ETFs, meaning retail investors account for 100% of local market volume.

Democratic Party renews crypto-friendly platform

Democratic Party leader Lee Jae-myung recently pledged to legalize spot crypto ETFs, reduce transaction fees, and foster a safer investment environment — particularly for younger generations. The promises echo similar initiatives from the party’s 2024 campaign, which stalled amid legislative gridlock.

Lee’s comments reflect growing interest in aligning South Korea with global crypto finance trends, including developments in the U.S., where spot Bitcoin ETFs have drawn tens of billions in institutional inflows since their approval earlier this year.

Experts warn of political inertia and structural hurdles

Despite political momentum, blockchain adviser Anndy Lian warned against assuming quick progress. “The pledges are promising, but history tempers optimism,” Lian told Cointelegraph, referencing past failures by the ruling People Power Party to follow through on ETF reform prior to President Yoon’s impeachment.

He noted that South Korea’s Financial Services Commission has shown signs of “regulatory openness,” but cautioned that structural factors — including lingering concerns about volatility, oversight, and international compliance — could delay execution.

Hong Kong’s own spot Bitcoin and Ether ETF launches on April 30, while symbolically important, saw lackluster trading volume relative to their U.S. counterparts — a reminder that legal approval doesn’t always translate to immediate market traction.

Whether South Korea will break the cycle of political promises without follow-through remains to be seen, but the growing chorus of support suggests the next administration may finally act on long-delayed crypto legislation.

Recently we wrote that the U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s proposed spot Solana (SOL) ETF, pushing the review deadline to October 2025.

Source: https://tradersunion.com/news/cryptocurrency-news/show/262159-south-korean-presidential-candidates/