El Salvador’s President Naib Bukele reacted to the news that El Salvador’s recently proposed Cryptocurrency Accountability Act (ACES) has been passed by the U.S. Senate Committee on Foreign Relations and will now be subject to a full vote in the Senate. The 40-year-old national leader reacted emotionally on Twitter:

On Wednesday, March 23, the Senate Foreign Relations Committee approved a bill sponsored by Senators James Rish, Bill Cassidy and Bob Menendez. The Commission issued a passport to Bill S. 3666 (ACES), which aims to “reduce the risks associated with El Salvador’s acceptance of bitcoin as legal tender,” and S. 816, “An Act to Review the State Department’s Foreign Risk Tolerance.”

Related Topics: Bitcoin Law in El Salvador: Understanding Alternatives to Government Intervention

The ACES Act was first introduced on February 16, 2022. If the law is approved by the full Senate, the federal government will need to consider passing a bitcoin law in El Salvador and determine whether the country can “fight economic integration and cybersecurity.” risks” and comply with the requirements of the Financial Action Task Force (FATF). After 60 days of review, agencies must develop an action plan.

Immediately after the ACES bill was introduced in February, Bukele urged the United States to “stay out” of El Salvador’s internal affairs. “The United States government does not support freedom, and this is a proven fact,” the Salvadoran leader said.

A date for the ACES vote in the US Senate has not yet been set.

Source: CoinTelegraph