US Senators propose sanctions against El Salvador's President Bukele, accusing him of Bitcoin misuse and human rights abuses

On July 10, according to CryptoSlate, Democratic senators in the United States have introduced the "El Salvador Accountability Law" (S.2058), which calls for sanctions against El Salvador's President Nayib Bukele and members of his government. The bill, proposed by Senators Chris Van Hollen, Tim Kaine, and Alex Padilla, accuses the El Salvadoran government of violating international human rights standards and misusing Bitcoin. The bill requires the Trump administration to freeze the assets of relevant individuals in the United States, deny visas, and suspend financial assistance. In addition, the U.S. Secretary of State must submit a detailed report on El Salvador's cryptocurrency use within 90 days of the bill's passage, including the amount of public funds used to purchase Bitcoin, the exchanges used, and related wallet addresses. In response, President Bukele responded on social media, suggesting that the U.S. lawmakers' attempts at sanctions were motivated by impure intentions. It is worth noting that Bukele and President Trump previously had a good relationship, and Bukele was invited to visit the White House in April of this year. Two months later, a Trump advisor met with him to discuss cryptocurrency cooperation. [Deep Tide TechFlow]