U.S. Senators Jim Risch (R-Idaho) and Bob Menendez (D-N.J.), and Bill Cassidy (R-La.) introduced a bill on February 16th that will require the Secretary of State to gather all Bitcoin related activity from El Salvador’s government and citizens. The description of the bill reads “To require reports on the adoption of a cryptocurrency as legal tender in El Salvador, and for other purposes.”
The “other purposes” include:
All reports must be submitted, within 60 days after the bill is passed, to the “relevant Federal departments and agencies”. The bill claims that these procedures are necessary to develop “a plan to mitigate any potential risk to the United States financial system posed by the adoption of a cryptocurrency as legal tender in El Salvador; and any other country that uses the United States dollar as legal tender.”
El Salvador’s President Nayib Bukele responded to the U.S. Senators in a tweet calling them “boomers” and to “Stay out of our internal affairs”.