arrow_back Civic Audit
Share share

US Report on El Salvador's Bitcoin Adoption: Financial Security and Remittances

This Act mandates the US State and Treasury Departments to prepare a detailed report on El Salvador's adoption of Bitcoin as legal tender. The goal is to assess how this change affects money laundering risks, El Salvador's economic stability, and the flow of money sent from the US. The report aims to inform Congress about potential threats to US financial security and interests, including cybercrime risks and the potential reduction in US dollar usage.
Key points
Requires a US government report assessing gaps in anti-terrorism and anti-money laundering regulations in El Salvador related to cryptocurrency use.
Analysis of Bitcoin's impact on El Salvador's financial stability, including taxation, and on the flow of remittances (money transfers) from the United States.
Assessment of whether Bitcoin adoption could reduce the use of the US dollar in the region and the resulting risks to trade relations with the US.
article Official text account_balance Process page notifications_active Track this Bill
gavel
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens (explained here). Start recording it now.
Additional Information
Print number: 118_S_1578
Sponsor: Sen. Risch, James E. [R-ID]
Process start date: 2023-05-11
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-09-2025
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 118_S_1578.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-05-11.

What are the main provisions?

Key points include:

  • Requires a US government report assessing gaps in anti-terrorism and anti-money laundering regulations in El Salvador related to cryptocurrency use.
  • Analysis of Bitcoin's impact on El Salvador's financial stability, including taxation, and on the flow of remittances (money transfers) from the United States.
  • Assessment of whether Bitcoin adoption could reduce the use of the US dollar in the region and the resulting risks to trade relations with the US.
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: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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