A bill to require reports on the adoption of a cryptocurrency as legal tender in El Salvador, and for other purposes.
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.
Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in Senate
Read twice and referred to the Committee on Foreign Relations.
Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
Committee on Foreign Relations. Reported by Senator Menendez with an amendment in the nature of a substitute. Without written report.
Committee on Foreign Relations. Reported by Senator Menendez with an amendment in the nature of a substitute. Without written report.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 321.
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