El Salvador’s Bitcoin Holdings Face IMF Regulation By End Of Year

A newly disclosed set of deadlines from the International Monetary Fund (IMF) appears set to sharpen oversight of El Salvador’s Bitcoin during the coming year and beyond. According to information released by journalist Ricardo Valp of El Faro, President Nayib Bukele’s administration allegedly agreed to share comprehensive data on its BTC holdings and transactions in return for the $1.4 billion bailout package.

In a post on X, Valp wrote: “NEW: ‘The IMF reveals Bukele agreed provide IMF with internal information about Bitcoin transactions, including cold & hot wallet addresses owned by the Government of El Salvador, the names of people involved, and to regulate Bitcoin holdings in exchange for a $1.4B bailout.’”

IMF Takes Aim At El Salvador’s Bitcoin Holdings

Alongside this statement, Valp shared images of the official IMF proposals or conditions, each labeled with a specific deadline and review. The core aim of these conditions is to “reduce risks related to Bitcoin,” focusing on enhanced transparency and accountability in the government’s BTC activities.

According to the documents, the government must submit a signed statement to IMF staff confirming all hot and cold wallet public addresses—along with corresponding BTC amounts—owned or controlled by the Salvadoran public sector. This mandate covers not only central government accounts but also any state-controlled entities or legal persons under majority ownership or influence, as defined by international accounting standards.

The first requirement to report these Bitcoin addresses and amounts is due by the end of March 2025, aligning with the IMF’s first program review. A second disclosure is scheduled for the end of June 2025, capturing updated balances. The final disclosure, at the end of December 2025, falls under the IMF’s third review and requires a signed statement listing and identifying all state-linked addresses and amounts at that time.

In addition to these recurring disclosures, the plan imposes strict deadlines for the restructuring or cessation of several high-profile components of El Salvador’s Bitcoin infrastructure. The government must adopt and publish a new business plan aimed at halting the use of public funds within the state-sponsored digital wallet known as Chivo.

This new plan is to be instituted by July 2025, with the IMF’s first review in March 2025 expected to assess progress toward that objective. By that same July 2025 juncture, the state is reportedly required to liquidate the BTC trust fund known as Fidebitcoin and release the associated audits conducted by the Court of Accounts (AAB) and independent external auditors. The guidelines also indicate that the government should publish Chivo’s financial statements, verified by auditors, and segregate Chivo users’ US dollar balances at the country’s Central Reserve Bank (BCR).

The final phase, by December 2025, calls for enacting a comprehensive framework that will strictly govern how the government purchases, holds, or disposes of its Bitcoin and any other crypto assets. This framework would include rigorous governance protocols, formal risk management controls, explicit investment guidelines, and a clearly defined regulatory role for the AAB. The IMF’s objective, according to the texts, is to ensure greater transparency, minimize exposure to abrupt price swings, and centralize accountability for digital asset practices at the state level.

The extent of oversight implied by these measures has provoked mixed reactions on social media. One notable post came from Bitcoin commentator Pledditor (@Pledditor), who remarked, “Looks like we finally got a timetable on when El Salvador’s IMF cuckening begins. Chivo Wallet will be unwound by July 2025 and the IMF will start regulating El Salvador’s Bitcoin Treasury by December 2025.”

The Salvadoran government has not yet publicly commented on these requirements. However, El Salvador bought another 5 Bitcoin for their Strategic Reserve on March 3, according to the Bitcoin Office.

At press time, BTC traded at $83,418.