A group of US senators introduced legislation Tuesday centered around El Salvador's adoption of bitcoin as legal tender.
was introduced by Senate Foreign Relations Committee ranking member Jim Risch and committee chairman Bob Menendez , as well as Bill Cassidy .
The bill, if passed, would mandate the production of a State Department report on El Salvador's bitcoin moves, as well as a"plan to mitigate potential risks to the U.S. financial system.
The State Department report would include several key pieces of information about El Salvador’s process to legally make bitcoin legal tender, as well as an examination of how that law affects its citizens and businesses. For example, the report would describe the process El Salvador followed to develop and enact its bitcoin law, the extent to which its citizens are using cryptocurrency, and the country’s technical ability to handle cybersecurity risks.
The report would also investigate matters such as “El Salvador’s bilateral economic and commercial relationship with the United States and the potential for reduced use by El Salvador of the United States dollar,” its relationships with organizations like the International Monetary Fund and World Bank and any possibility of using cryptocurrency to circumvent U.S. sanctions.
“El Salvador’s adoption of Bitcoin as legal tender raises significant concerns about the economic stability and financial integrity of a vulnerable U.S. trading partner in Central America,” Risch said in a press statement. “This new policy has the potential to weaken U.S. sanctions policy, empowering malign actors like China and organized criminal organizations.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
The US Senate: Where legislation goes to get bogged downA Sen. Marsha Blackburn spokesman said Monday she would drop her objections if she received a promise in writing that taxpayers’ money wouldn’t be spent on crack pipes.
Leer más »
Fed never did it: US Senate Banking head lashes out at Super Bowl crypto ads'I’ve never seen the Federal Reserve buy a multimillion-dollar commercial for U.S. dollars,' Sen. Sherrod Brown said.
Leer más »
New federal guidelines could boost carbon capture in the USEnvironmentalists are split on the controversial climate tech.
Leer más »
US approves new headlights that won’t blind oncoming driversAnyone who has ever been temporarily blinded by high-beam headlights from an oncoming car will be happy to hear this.
Leer más »
The top 10 best new attractions across the U.S. include a very Van Gogh entryUSA Today’s 10Best feature recently ranked the best tourist attractions to open in the last year, a list that includes three spectacular museums, a stadium tour and a couple of very familiar …
Leer más »
US sea levels will rise rapidly in the next 30 years, new report showsA new report provides an alarming forecast for the US: Sea levels will rise in the next 30 years by as much as in the past 100 years
Leer más »