U.S. Representative for California’s 35th District, Congresswoman Norma J. Torres, announced on April 4 that she, alongside Congressman Rick Crawford introduced the Accountability for Cryptocurrency in El Salvador (ACES) Act to mitigate the risks to the United States of El Salvador’s adoption of Bitcoin as legal tender.
Torres labeled in a tweet the Central American nation’s adoption of Bitcoin ‘a careless gamble’ as she introduced the bill.
"El Salvador’s adoption of Bitcoin is not a thoughtful embrace of innovation, but a careless gamble that is destabilizing the country."
Today, I introduced the Accountability for Cryptocurrency in El Salvador Act with @RepRickCrawford. El Salvador’s adoption of #Bitcoin is not a thoughtful embrace of innovation, but a careless gamble that is destabilizing the country. https://t.co/Ag9K8fyHMb pic.twitter.com/4N8DN7895w
— Rep. Norma Torres (@NormaJTorres) April 5, 2022
She added:
“El Salvador is an independent democracy and we respect its right to self-govern, but the United States must have a plan in place to protect our financial systems from the risks of this decision.”
