El Salvador Halts Public Bitcoin Purchases, Eyes Cross-Border Crypto Sandbox, Reports $150 Million Profits

El Salvador has engaged in discussions with the U.S. Securities and Exchange Commission (SEC) to establish a cross-border cryptocurrency sandbox, according to Juan Carlos Reyes, President of the National Commission of Digital Assets (CNAD). The country has been recognized for its substantial Bitcoin holdings and has reportedly made over $150 million in profits from its Bitcoin investments. However, the International Monetary Fund (IMF) confirmed that El Salvador has committed to halting Bitcoin accumulation using public funds by its fiscal sector. This marks a shift in the country's cryptocurrency strategy as part of broader financial reforms. The IMF's announcement indicates that El Salvador will stop using public funds to purchase Bitcoin, signaling a change in its approach to digital asset management.

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