US lawmakers introduce companion bill to mitigate risks from El Salvador’s Bitcoin Law - BitcoinEthereumNews.com
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 anouncement, California Representative Norma Torres and Arkansas Representative Rick Crawford प्रस्तावित 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 (बीटीसी) 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 उद्देश्य से 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 Funds reports that the use of Bitcoin as