ACES Act

This bill requires the U.S. Secretaries of State and Treasury to submit a report to Congress within 120 days of enactment, assessing El Salvador’s adoption of Bitcoin as legal tender. The report must cover the process behind El Salvador’s Bitcoin Law, potential financial risks like money laundering gaps, impacts on businesses and the unbanked population, macroeconomic effects, internet infrastructure, and relations with U.S. and international financial institutions. It does not change El Salvador’s policy but mandates a U.S. government evaluation of the cryptocurrency adoption’s implications. The bill directly affects U.S. federal agencies and Congress, not El Salvador’s domestic law.