The US Senate passed its “Accountability for Cryptocurrency in El Salvador (ACES) Act” through committee on Wednesday, and the bill is set to be voted on by the house. Nayib Bukele has taken to Twitter to respond, and he is incensed by the idea.
‘The US Government is afraid of what we are doing here’ – Bukele
In a tweet today, El Salvador’s President Nayib Bukele said, “The US Government DOES NOT stand for freedom and that is a proven fact. So we will stand for freedom. Game on! Bitcoin is FU money!.”
The country’s leader said this in response to the news that the ACES Act, short for the “Accountability for Cryptocurrency in El Salvador (ACES) Act,” had passed a committee hearing and that the US Senate was ready to vote on it.
In February, the ACES Act was introduced by bipartisan senators, including Republican Senators James Risch and Bill Cassidy and Democrat Senator Bob Menendez. The bill’s details seek to identify and prepare to face potential risks that could accrue to America from El Salvador’s adoption of Bitcoin as a legal tender. Yesterday, Senator Risch said, “As El Salvador has adopted Bitcoin as legal tender, it’s important we understand and mitigate potential risks to the US financial system.”
El Salvador’s leader perceives the actions of the United States as a threat to the country’s sovereignty. He said as much when the bill was first introduced in February, implying that it was not America’s business what policies El Salvador employed internally.
“OK boomers … You have 0 jurisdiction on a sovereign and independent nation. We are not your colony, your back yard, or your front yard. Stay out of our internal affairs. Don’t try to control something you can’t control,” said Bukele.
Bukele yesterday expressed shock that the US feels threatened by El Salvador’s internal policies. He said, “Never in my wildest dreams would I have thought that the US Government would be afraid of what we are doing here.”
Several Bitcoin supporters have rallied under his tweets to express their support of Bukele’s perspective, including the Director of Digital Strategy at the Parliament of Canada, Tristan Lamonica, who reacted, “Means you’re doing something right, keep killing it you GOAT.”
Bukele Clarifies The Reason For Bitcoin Bond Delay
El Salvador first adopted Bitcoin as a legal tender last year; since then, the Central American nation has outlined plans to launch a Bitcoin bond and build a Bitcoin city. The bond was initially scheduled to be launched anytime from the 15th to the 20th of March.
However, as ZyCrypto reported yesterday, El Salvador has delayed the launch of the Bitcoin-backed bond with Reuters reporting that the country’s finance minister had announced that the bond would be delayed possibly till September.
Bukele, late yesterday, clarified that it was not as presented but that it was only a short delay due to other policies taking precedence in parliament, adding that the bond would be issued in partnership with Bitfinex.