El Salvador’s Congress approved amendments to its bitcoin law on Jan. 29, making the acceptance of the cryptocurrency voluntary instead of mandatory.

This reform, proposed by President Nayib Bukele, responds to requirements set by the International Monetary Fund (IMF) related to a US$1.4 billion loan agreement established in December.

The Congress, which is largely dominated by Bukele’s New Ideas Party, passed the amendment with 55 votes in favor and two against.

This legislation alters a significant 2021 decision that designated bitcoin as legal tender, along with the US dollar.