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U.S. Senators Propose Bill Targeting Bukele's Use of Bitcoin in El Salvador
A group of Democratic senators introduced the "El Salvador Responsibility Act of 2025" (S. 2058) in June, which could impose slashing measures related to Bitcoin against President Nayib Bukele. The bill requires the U.S. Secretary of State to report on the Bukele government's use of cryptocurrency, particularly Bitcoin, for corruption and evading sanctions.
The report will analyze El Salvador's cryptocurrency activities, including the public funds spent on Bitcoin, a list of exchanges, storage wallet addresses, and identifying individuals with access to the funds. It will also assess corruption risks and investigate the use of Bitcoin to circumvent financial sanctions. This bill marks an increase in U.S. oversight of El Salvador's Bitcoin strategy.
The main factors of the proposal report include: