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Bukele Slams The US Bill That Targeted His Bitcoin Law

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Bukele slams the US bill that targeted his Bitcoin law while the US Senators try to understand the effects that the bill has on the country but also on the US dollar so let’s read more in today’s latest Bitcoin news.

The US lawmakers introduced a new bill to examine and to develop a plan to mitigate the potential risks of El Salvador’s BTC Law. The President of El Salvador Nayib Bukele slams the US bill and got angry at the Senate’s decision to move ahead with the bill and examine potential risks of the Central American country’s BTC law. The bill in El Salvador passed the committee yesterday which means that it will now move to the next step and the Senate will vote on it.

The Senators introduced the bill last month and asks the State Department to produce a report on the BTC adoption in El Salvador with a plan to mitigate the potential to weaken the US sanctions policy and empower malicious actors like China. After the bill passed the committee on Wednesday, Bukele said that the US governemnt doesn’t stand for freedom while they do and even called BTC FU (Fu*c you) money. He continued:

 “The U.S. Government does not stand for freedom and that is a proven fact.  Never in my wildest dreams would I have thought that the U.S. Government would be afraid of what we are doing here.”

President Bukele Is known for his outbursts on social media and often sparks to the press but he preferred to now communicate via cinematic Instagram videos and emojis. The BTC Law was proposed last year in El Salvador and asked businesses to accept BTC as payment if they have the technological means to do so. Plenty of big businesses like McDonald’s and Starbucks allow citizens to pay with the crypto but the smaller businesses don’t. El Salvador’s governemnt gave its citizens $30 worth of BTC to spend via their state-issued wallet and the ATMs all over the capital San Salvador.

US Senators Will Investigate, el salvador, bitcoin, legal, effects

The BTC community seemed to love the idea of a government allowing the citizens to spend crypto but the IMF, and JPMorgan didn’t. the IMF even asked the country to erase the law altogether. The Idaho senator even said that El Salvador adopted BTC as a legal tender and it is important that they understand how they can mitigate potential risks to the US financial system.

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