arrow_back Back to App

US Reports on Bitcoin in El Salvador: Financial and Security Impact

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 the impact of this decision on financial stability, cybersecurity, and economic relations between El Salvador and the United States. Citizens can understand how the U.S. monitors potential risks associated with cryptocurrencies in the region.
Key points
The U.S. government will examine how El Salvador implemented Bitcoin as currency and its consequences for its economy and society.
Reports will assess cybersecurity and money laundering risks in El Salvador, as well as the impact on money flows from the U.S.
The Act mandates a plan for the U.S. to protect its financial system from cryptocurrency risks in countries using the U.S. dollar.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_3666
Sponsor: Sen. Risch, James E. [R-ID]
Process start date: 2022-02-16
Lustra uses Artificial Intelligence. Verify details in source documents.
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_S_3666.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-02-16.

What are the main provisions?

Key points include:

  • The U.S. government will examine how El Salvador implemented Bitcoin as currency and its consequences for its economy and society.
  • Reports will assess cybersecurity and money laundering risks in El Salvador, as well as the impact on money flows from the U.S.
  • The Act mandates a plan for the U.S. to protect its financial system from cryptocurrency risks in countries using the U.S. dollar.
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 Sen. Risch, James E. [R-ID].

What is the latest detailed status?

The latest detailed status is: Placed on Senate Legislative Calendar under General Orders. Calendar No. 321.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Security