'As El Salvador has adopted bitcoin as legal tender, it’s critical we mitigate risks to our financial system,' said the U.S. senator. crypto cryptocurrency $BTC
US Senate Committee Advances Bill to Mitigate Risks From El Salvador Adopting Bitcoin as Legal Tender
The Senate bill to mitigate the risks from El Salvador adopting bitcoin as legal tender has advanced in the U.S. “As El Salvador has adopted bitcoin as legal tender, it’s critical we mitigate risks to our financial system,” said one of the U.S. lawmakers who introduced the bill.The U.S Senate Foreign Relations Committee has advanced the ‘‘Accountability for Cryptocurrency in El Salvador Act’’ or ‘‘ACES Act.
was introduced on Feb. 16 by Senators Jim Risch , Bob Menendez , and Bill Cassidy . It aims to mitigate the risks from El Salvador adopting bitcoin as legal tender.As El Salvador has adopted bitcoin as legal tender, it’s critical we mitigate risks to our financial system. “The legislation passed by SFRC today requires federal agencies to examine risks, including potential empowerment of bad actors & organized crime,” he said.a report from the State Department on El Salvador’s adoption of bitcoin as legal tender and a plan to mitigate potential risks to the U.S. financial system. The report would include an analysis of El Salvador’s bitcoin law and the risks for cybersecurity, economic stability, and democratic governance.
El Salvador adopted bitcoin as a national currency alongside the U.S. dollar in September last year. Since then, the country has
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