US lawmakers introduce companion bill to 'mitigate risks' from El Salvador’s Bitcoin Law.
"The United States must have a plan in place to protect our financial systems from the risks of El Salvador's decision," said Representative Norma Torres.
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 th Sự công nhận của Bitcoin (BTC) là đấu thầu pháp lý vào tháng 9 năm 2021. Việc trách nhiệm về tiền điện tử trong Đạo luật El Salvador là một hóa đơn đồng hành cho pháp luật Bipartisan được giới thiệu tại Thượng viện vào tháng Hai.
Dự luật Thượng viện nhằm có Bí thư Nhà nước cũng như Bộ Ngoại giao và Cơ quan Liên bang báo cáo cho Quốc hội trong vòng 60 ngày trong một kế hoạch giảm thiểu bất kỳ rủi ro tiềm năng nào đối với hệ thống tài chính của Hoa Kỳ do việc áp dụng một tiền điện tử là đấu thầu pháp lý "ở El Salvador và các quốc gia khác Chấp nhận đồng đô la Hoa Kỳ - dường như bao gồm Ecuador, Micronesia, Palau, Đông Timor, Zimbabwe và Quần đảo Marshall. Torres cited the International Monetary Fund’s reports that the use of Bitcoin as legal tender carried “large risks” related to financial stability, financial integrity and consumer protection.
“El Salvador is an independent democracy and we respect its right to self-govern, but the United States must have a plan in place to protect our financial systems from the risks of this decision, which appears to be a careless gamble rather than a thoughtful embrace of innovation,” said Torres.
Idaho Senator James Risch, the sponsor of the Senate bill, said in February that El Salvador’s adoption of BTC as legal tender raised “significant concerns about the economic stability and financial integrity of a vulnerable U.S. trading partner in Central America.” LOUISIANA SENATOR BILL CASSIDY, một trong những đồng tài trợ, tuyên bố rằng luật Bitcoin của đất nước có thể "[mở cửa cho các cartel rửa tiền" và đe dọa sự thống trị của U.S. Dollar là tiền tệ dự trữ toàn cầu. US lawmakers introduce companion bill to 'mitigate risks' from El Salvador’s Bitcoin Law.
"The United States must have a plan in place to protect our financial systems from the risks of El Salvador's decision," said Representative Norma Torres.
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.
The Senate bill aimed to have the Secretary of State as well as federal department and agency heads report to Congress within 60 days on a plan to "mitigate any potential risk to the United States financial system posed by the adoption of a cryptocurrency as legal tender" in El Salvador and other countries that accept the U.S. dollar — seemingly including Ecuador, Micronesia, Palau, East Timor, Zimbabwe and the Marshall Islands. Torres cited the International Monetary Fund’s reports that the use of Bitcoin as legal tender carried “large risks” related to financial stability, financial integrity and consumer protection.
“El Salvador is an independent democracy and we respect its right to self-govern, but the United States must have a plan in place to protect our financial systems from the risks of this decision, which appears to be a careless gamble rather than a thoughtful embrace of innovation,” said Torres.
Idaho Senator James Risch, the sponsor of the Senate bill, said in February that El Salvador’s adoption of BTC as legal tender raised “significant concerns about the economic stability and financial integrity of a vulnerable U.S. trading partner in Central America.” Louisiana Senator Bill Cassidy, one of the co-sponsors, claimed that the country’s Bitcoin Law could “[open the door for money laundering cartels” and threaten the U.S. dollar’s dominance as the global reserve currency.
| 
