HR 7391
117th Congress
House
International Affairs
Computers and information technology
Congressional oversight
Currency
Digital media
El Salvador
Foreign and international banking
Forests, forestry, trees
Internet, web applications, social media
Land use and conservation
Latin America
ACES Act
Introduced: April 4, 2022
Introduced by:
Torres, Norma J.
Democratic
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 4, 2022
Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Apr 4, 2022
Introduced in House
Plain-English summary
Accountability for Cryptocurrency in El Salvador Act or ACES Act
This bill requires the Department of State to devise and implement a plan to mitigate any potential risk to the U.S. financial system posed by the adoption of a cryptocurrency as legal tender in El Salvador and any other country that uses the U.S. dollar as legal tender. The State Department must report to Congress on this plan and on various issues relating to El Salvador's adoption of Bitcoin as legal tender.
What's happening now
Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Committees of jurisdiction
2
Cosponsors
1