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 5, 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

Introduced in House

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.

Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

Plain-English summary Congressional Research Service

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 April 4, 2022

Related & companion bills 1

Bill text 1 version