US Congress to Consider Bill That Studies El Salvador’s BTC Policy

by in Cryptocurrency News

El Salvador USA BTC

The US Senate considers adopting a bill that as it describes would mitigate risks to the US financial system that it finds may come from El Salvador's adoption of BTC as legal tender.

Related: El Salvador Postpones the Launch of BTC Bonds

Senators Jim Risch, Bob Menendez, and Bill Cassidy introduced the act on February 16. The bill would require reports on the policy and for other purposes.

Commenting on the news, the president of El Salvador, Nayib Bukele said he would never have thought that the US government would be afraid of what the country is doing.

In September 2021, El Salvador adopted BTC as a legal tender, becoming the first country to do so. Besides, the country invested in crypto. El Salvador’s move has been widely discussed.

The Central American country plans to gather $1 bln by issuing bitcoin bonds to build Bitcoin City and increase its Bitcoin holdings.