S. 3666 · 117th Congress
Accountability for Cryptocurrency in El Salvador Act
- Stage
- Reported from committee
- Sponsor
- James Risch
- Introduced
- 2022-02-16
- Latest action
- 2022-04-04 · Committee on Foreign Relations. Reported by Senator Menendez with an amendment in the nature of a substitute. Without written report.
Summary
Accountability for Cryptocurrency in El Salvador Act or ACES Act
This bill requires the Department of State to devise and implement a plan to mitigate any potential risk to the U.S. financial system posed by the adoption of a cryptocurrency as legal tender in El Salvador and any other country that uses the U.S. dollar as legal tender. The State Department must report to Congress on this plan and on various issues relating to El Salvador's adoption of Bitcoin as legal tender.