US-El Salvador Resume Dialogue: New Trends in Crypto Policy and Economic Cooperation

This weekend, U.S. Treasury Secretary Scott Bessent met with El Salvadoran President Nayib Bukele at the 'Americas Shield' summit in Miami, marking the resumption of high-level dialogue between the two countries on crypto asset strategies. The meeting focused on the policy evolution and economic adjustments in El Salvador since it became the first country in the world to adopt Bitcoin as legal tender in 2021.

Initially, El Salvador's Bitcoin policy garnered widespread international attention, while also drawing concerns from the International Monetary Fund (IMF) and several credit rating agencies regarding financial stability. Some U.S. lawmakers also pushed for legislation to curb its potential spillover risks to the U.S. financial system. Faced with external pressure and domestic debt challenges, the El Salvadoran government adjusted its policy in early 2025, removing the requirement for Bitcoin to be mandatory legal tender and restricting direct public sector involvement in crypto transactions in exchange for up to $1.4 billion in loan support from the IMF.

Despite the policy concessions, the actual usage rate of Bitcoin among the El Salvadoran population remains low. Multiple polls from 2024 to 2025 show that most residents have not incorporated Bitcoin into their daily payment scenarios. However, this high-level meeting between the U.S. and El Salvador indicates that the two sides are shifting from early criticism and vigilance to pragmatic cooperation, jointly exploring the potential role of digital assets in regional economic development. The dialogue is no longer limited to risk management but extends to broader economic issues such as financial innovation, inclusive payments, and digital infrastructure construction.