S 3666
ACES Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Accountability for Cryptocurrency in El Salvador Act (ACES Act), requires the State Department to assess the risks to the U.S. financial system posed by El Salvador’s adoption of Bitcoin as legal tender. Specifically, it mandates the submission of reports to Congress detailing the process of El Salvador’s Bitcoin Law, an evaluation of its regulatory framework and potential impacts, and an analysis of the country’s internet infrastructure. Furthermore, the bill directs the State Department to develop and implement a plan to mitigate any identified risks to the U.S. financial system, extending this requirement to other countries using the U.S. dollar as legal tender.
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