US lawmakers introduce companion bill to ‘mitigate risks’ from El Salvador’s Bitcoin Law
2022.04.05 22:32
US lawmakers introduce companion bill to ‘mitigate risks’ from El Salvador’s Bitcoin Law
Two members of the House of Representatives have introduced legislation aimed at mitigating the risks to the United States financial system due to El Salvador adopting Bitcoin (BTC) as legal currency.
In a Monday announcement, California Representative Norma Torres and Arkansas Representative Rick Crawford proposed legislation that would direct the State Department to create a plan to mitigate the potential risks to the U.S. financial system based on an analysis of the risks to El Salvador’s “cybersecurity, economic stability and democratic governance” following the country’s recognition of Bitcoin (BTC) as legal tender in September 2021. The Accountability for Cryptocurrency in El Salvador Act is a companion bill to bipartisan legislation introduced in the Senate in February.
