The proposed Accountability for Cryptocurrency in El Salvador Act (ACES) has passed the Senate Foreign Relations Committee and will now be considered by the entire Senate. President Nayib Bukele, on the other hand, is not pleased with the developments in El Salvador.
He questioned the United States’ desire to push the bill when responding to it on Twitter. Senators Bob Menendez, James Risch, and Bill Cassidy sponsored the bill.
The Bill aims to mitigate the risks associated with El Salvador’s adoption of Bitcoin.
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