The bill would direct federal agencies to scrutinize how El Salvador implements its Bitcoin law.
El Salvador president Nayib Bukele reacted to the news that the recently planned accountability for Cryptocurrency in El Salvador|Salvador|Central American country|Central American nation} Act (ACES) had passed the U.S. Senate Foreign Relations Committee and can currently head to a full Senate vote. The 40-year previous statesman responded emotionally on Twitter:
On Wednesday, March 23, the Senate Foreign Relations Committee approved the bill, sponsored by Senators James Risch, Bill Cassidy and Bob Menendez. The committee granted a pass to S. 3666 (ACES) bill that's alleged to “mitigate risks related to El Salvador’s adoption of Bitcoin as legal tender” and to S. 816, “legislation to recalibrate the State Department’s risk tolerance abroad”.
( David Attlee, Cointelegraph, 2022 )