June 25 (Cointime) - El Salvador, which made history by adopting Bitcoin as legal tender, is now facing criticism and scrutiny from leaders around the world. U.S. lawmakers, including Senators Bob Menendez and Jim Risch, have introduced the Accountability for Cryptocurrency in El Salvador Act, which requires the country to produce a report outlining its use of cryptocurrencies and the measures taken to ensure user safety.
The concerns raised by U.S. lawmakers center around the potential weakening of economic and financial stability, as well as the risk of empowering malicious actors through the use of cryptocurrency as legal tender. El Salvador's president, Nayib Bukele, has dismissed these concerns and claimed that the U.S. government does not uphold the values of freedom.
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