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US Reports on Bitcoin in El Salvador and Financial System Risks

This act requires the U.S. government to prepare reports on El Salvador's adoption of Bitcoin as legal tender. The goal is to assess its impact on financial stability, security, and international relations, and to develop a plan to mitigate risks to the U.S. financial system.
Key points
The U.S. government will study how El Salvador implemented Bitcoin as its official currency.
Reports will assess Bitcoin's impact on El Salvador's economy, remittances from the U.S., and cybersecurity risks.
A plan will be developed to protect the U.S. financial system from cryptocurrency risks in other countries.
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Status:
Expired
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Additional Information
Print number: 117_HR_7391
Sponsor: Rep. Torres, Norma J. [D-CA-35]
Process start date: 2022-04-04
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

ACES Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7391.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-04-04.

What are the main provisions?

Key points include:

  • The U.S. government will study how El Salvador implemented Bitcoin as its official currency.
  • Reports will assess Bitcoin's impact on El Salvador's economy, remittances from the U.S., and cybersecurity risks.
  • A plan will be developed to protect the U.S. financial system from cryptocurrency risks in other countries.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Torres, Norma J. [D-CA-35].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Security