US Senators Reintroduce 'Accountability for Cryptocurrency in El Salvador (ACES) Act'
by Sergio Goschenko
5 hours ago
U.S. Senators Jim Risch and Bob Menendez have reintroduced the “Accountability for Cryptocurrency in El Salvador Act,” known as the “ACES Act,” for discussion in the Senate. The piece of legislation seeks to examine the level of adoption of bitcoin as a legal tender in El Salvador and how this might affect the financial stability of the country.
‘Accountability for Cryptocurrency in El Salvador (ACES) Act’ Reintroduced in U.S. Senate
U.S. Senators Jim Risch and Bob Menendez have reintroduced the “Accountability for Cryptocurrency in El Salvador Act,” also known as the “ACES Act,” to be discussed in the U.S. Senate. The piece of legislation, that was previously presented to Congress on March 23, 2022, seeks to examine the process applied to make bitcoin legal tender in El Salvador, as well as its effect on the economy of the country.
When reintroducing the ACES Act, U.S. Senator Jim Risch reinforced the perceived need to assess the possible effects of using crypto as legal tender. He stated:
We must seek greater clarity on how the adoption of bitcoin as legal tender may impact El Salvador’s financial and economic stability, as well as El Salvador’s capacity to effectively combat money laundering and illicit finances.
More:
https://news.bitcoin.com/us-senators-reintroduce-accountability-for-cryptocurrency-in-el-salvador-aces-act/