Senate will vote on a bill on the adoption of Bitcoin in El Salvador, Bukele responds that the US is afraid of it – DiarioBitcoin

Senate will vote on a bill on the adoption of Bitcoin in El Salvador, Bukele responds that the US is afraid of it - DiarioBitcoin

Senate will vote on a bill on the adoption of Bitcoin in El Salvador, Bukele responds that the US is afraid of it - DiarioBitcoin By DailyBitcoin Editor

The US bill on the adoption of Bitcoin in El Salvador, which was approved in committee yesterday, generated the discontent of the president of El Salvador, Nayib Bukele.

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The United States Senate will vote on a bill that seeks to mitigate the risks to the US financial system due to the adoption of Bitcoin as legal tender in El Salvador, after the bill was approved by committee yesterday.

It is worth noting that this project was presented by Senators James Risch, Bob Menendez and Bill Cassidy on February 16. As we told at the time, the bipartisan group of United States senators drafted legislation that aims to “mitigate potential risks to the US financial system”, such as, in his opinion, money laundering and the financing of terrorism, from the adoption of Bitcoin as legal tender in El Salvador.

The project is called “Responsibility Law for the Cryptocurrency Law in El Salvador (or ACES Law)”.

“Given that El Salvador has adopted Bitcoin as legal tender, it is important that we understand and mitigate the potential risks to the US financial system.”Risch said in a statement yesterday, adding that the legislation would require the State and Treasury Departments, among other federal agencies, to mitigate risks such as the potential empowerment of China and organized criminal organizations.

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The bill – which is very short, just 4 pages – would also ask the US to monitor remittances from El Salvador.

It is curious that they talk about cryptocurrencies in general, when the Salvadoran law only made Bitcoin legal tender, not cryptocurrencies in general.

Bukele responds

The president of El Salvador, Nayib Bukele, expressed his Twitter ironically his discontent after the bill received committee approval.

“Never in my wildest dreams would I have thought that the United States government would be afraid of what we are doing here”

He followed up with more tweets criticizing the Senate decision:

“The United States government does NOT stand for freedom and that is a proven fact.

So we will defend freedom.

Game on!

#Bitcoin is FU Money!”

When he talks about FU Money, he refers to having enough money invested that allows you to take control of your life, to have financial independence. comes from english “Fuck You Money” which could be translated as: “Money to send people to hell”.

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The president also retweeted several tweets that spoke out against the US bill.

About Volcano Bonds

Likewise, given the delay in Bitcoin bonds, ratified yesterday by the Minister of Finance, he said that this delay is related to the fact that other more urgent issues are being prioritized, such as the pension system, not for other reasons. He repeated that the bonds will be issued with Bitfinex and that there was no change in that regard.

He added that today he would have a meeting with Changpeng Zhao to discuss some crypto-related issues, but not the Volcano bonds, unless he wanted to be a buyer, he jokingly commented.

“I will meet with
@cz_binance
tomorrow to discuss OTHER topics, not the Volcano Bonds

Unless you want to buy something of course

#Bitcoin corrects FUD!”

Sources: Coindesk, Bill, twitter, archive

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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