{"id":35994,"date":"2025-07-09T15:31:44","date_gmt":"2025-07-09T15:31:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35994"},"modified":"2025-07-09T15:31:44","modified_gmt":"2025-07-09T15:31:44","slug":"us-senate-bill-targets-bukeles-bitcoin-strategy-with-massive-sanctions-plan","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35994","title":{"rendered":"US Senate Bill Targets Bukele\u2019s Bitcoin Strategy With Massive Sanctions Plan"},"content":{"rendered":"
\n

A trio of Senate Democrats has introduced legislation that would not only blacklist President Nayib Bukele and his inner circle but also order a forensic probe of El Salvador\u2019s Bitcoin strategy.\u00a0Filed on 12 June by Senators Chris Van Hollen (D-Md.), Tim Kaine (D-Va.) and Alex Padilla (D-Calif.), the El Salvador Accountability Act of 2025 (S. 2058<\/a>) sits before the Senate Foreign Relations Committee.<\/p>\n

Dems Target El Salvadors Bitcoin Strategy<\/h2>\n

The bill would trigger full economic-blockading powers under the International Emergency Economic Powers Act, freeze US-controlled assets of thirteen named Salvadoran officials\u2014including Bukele, Vice-President F\u00e9lix Ulloa and the president of the Central Reserve Bank\u2014and revoke their visas. It also compels US directors at the World Bank, International Monetary Fund (IMF)<\/a> and other multilaterals to vote against new loans to San Salvador while cutting off direct US assistance.<\/p>\n

Section 5 is the measure\u2019s Bitcoin fulcrum. Within 90 days of enactment, the Secretary of State, in consultation with Treasury, must deliver \u201ca report on the actions of officials of the Government of El Salvador, including President Nayib Bukele<\/a>, to use cryptocurrency as a mechanism for gross corruption, graft, and sanctions evasion,\u201d together with wallet addresses, exchange counterparties and an estimate of the state\u2019s Bitcoin stash.<\/p>\n

That language resurrects concerns first formalized in the bipartisan Accountability for Cryptocurrency in El Salvador (ACES) Act of 2022, which ordered a risk assessment of Bukele\u2019s original 2021 Bitcoin Law. In January this year, Bukele\u2019s super-majority quietly stripped Bitcoin of its legal-tender status<\/a>\u2014part of an IMF rescue deal\u2014though the asset remains accepted for payments and sits on the treasury\u2019s balance sheet.<\/p>\n

The sponsors insist the sanctions push is foremost a human-rights response. \u201cUnder President Bukele, tens of thousands of Salvadorans and even US residents remain jammed in megaprisons without due process,\u201d Kaine said on introduction. Van Hollen added that Bukele is \u201ctaking American taxpayer dollars to imprison people as part of a scheme to violate their constitutional rights,\u201d while Padilla called the crackdown \u201cabhorrent\u201d and said economic penalties are \u201ca necessary step.\u201d<\/p>\n

Yet the text\u2019s Bitcoin provisions signal Washington\u2019s broader anxiety that a dollarized economy holding un-audited Bitcoin reserves could morph into a sanctions-evasion node\u2014particularly if the Trump administration were to soften scrutiny. The bill would force the State and Treasury departments to expose addresses, custodians and governance arrangements for the Salvadoran wallets.<\/p>\n

Related Reading: Bitcoin Volatility Hits Bull Cycle Low \u2013 Bollinger Bands Signal Potential Breakout<\/a><\/p>\n

Bukele, never shy on social media, greeted<\/a> the proposal with characteristic derision. \u201cHAHAHAHAHAHAHA the Dems are just salty\u2026\u201d he wrote on X shortly after the bill went public.<\/p>\n

Because S. 2058 invokes \u00a7502B of the Foreign Assistance Act, any committee member can force it to the floor if the State Department fails to furnish the mandated reports\u2014an arcane privilege the sponsors have already flagged they are prepared to use. Still, Republicans have yet to signal support, and the House remains an open question.<\/p>\n

If the measure passes intact, the White House would have ten days to list sanctioned individuals and 90 days to deliver the report. Sanctions could not be lifted for at least four years, and only after a presidential certification that El Salvador has ceased both its mass-detention state of exception and any Bitcoin-enabled sanctions evasion, according to the proposed bill.<\/p>\n

At press time, BTC traded at $108,821.<\/p>\n

\"Bitcoin<\/div>\n","protected":false},"excerpt":{"rendered":"

A trio of Senate Democrats has introduced legislation that would not only blacklist President Nayib Bukele and his inner circle but also order a forensic probe of El Salvador\u2019s Bitcoin strategy.\u00a0Filed on 12 June by Senators Chris Van Hollen (D-Md.), Tim Kaine (D-Va.) and Alex Padilla (D-Calif.), the El Salvador Accountability Act of 2025 (S. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35994","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35994"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35994\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}