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US lawmakers target perceived risks of crypto adoption in El Salvador with reintroduced bill


Two United States Senators from opposite sides of the political aisle have reintroduced legislation from 2022 aimed at mitigating perceived risks posed by El Salvador’s adoption of Bitcoin as a legal currency.

Congressional records showed Idaho Senator James Risch and New Jersey Senator Bob Menendez introduced “a bill to require reports on the adoption of cryptocurrency as legal tender in El Salvador” on May 11. The legislation appeared to be a second attempt at the Accountability for Cryptocurrency in El Salvador Act, which Risch introduced in February 2022, mere months after El Salvador’s Bitcoin Law went into effect.

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