US lawmakers target perceived risks of crypto adoption in El Salvador with reintroduced bill
The legislation appeared to be another attempt at El Salvador's cryptocurrency liability law, originally introduced after enactment of the Bitcoin law of the country.
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Two US senators from opposite sides of the political aisle have reintroduced 2022 legislation aimed at mitigating the perceived risks posed by El Salvador's adoption of Bitcoin as legal tender.
Congressional records showed that Idaho Senator James Risch and New Jersey Senator Bob Menendez introduced "a bill requiring reporting on the adoption of cryptocurrency as legal tender in El Salvador "May 11. The legislation appeared to be a second attempt at accountability for Cryptocurrency in El Salvador Act, which Risch introduced in February 2022, just months after the Salvadoran bitcoin law came into force.
According to a May 12 report from the Washington Examiner, Risch introduced the bill as part of efforts to curb the use of cryptocurrency as legal tender, saying it could “weaken economic stability and finance and empowering malicious actors". Bitcoin (BTC) has been accepted as legal tender in El Salvador alongside the national currency of the colon and the US dollar since September...
The legislation appeared to be another attempt at El Salvador's cryptocurrency liability law, originally introduced after enactment of the Bitcoin law of the country.
News
Join us on social networks
Two US senators from opposite sides of the political aisle have reintroduced 2022 legislation aimed at mitigating the perceived risks posed by El Salvador's adoption of Bitcoin as legal tender.
Congressional records showed that Idaho Senator James Risch and New Jersey Senator Bob Menendez introduced "a bill requiring reporting on the adoption of cryptocurrency as legal tender in El Salvador "May 11. The legislation appeared to be a second attempt at accountability for Cryptocurrency in El Salvador Act, which Risch introduced in February 2022, just months after the Salvadoran bitcoin law came into force.
According to a May 12 report from the Washington Examiner, Risch introduced the bill as part of efforts to curb the use of cryptocurrency as legal tender, saying it could “weaken economic stability and finance and empowering malicious actors". Bitcoin (BTC) has been accepted as legal tender in El Salvador alongside the national currency of the colon and the US dollar since September...
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