According to El Salvador's Minister of Tourism, Bitcoin has increased tourism by 30%

U.S. Passes Legislation to Solve El Salvador's Problems

El Salvador has in accepting bitcoin after it received a barrage of criticism from financial regulators and agencies around the world.

U.S. Congresswoman Norma J. Torres and Congressman Rick Crawford introduced the "Accountability for Cryptocurrency in El Salvador (ACES) Act" in April in response to El Salvador's bitcoin law.

According to sources, the bill will be referred to the State Department to investigate the potential harm that El Salvador's bitcoin adoption could cause to the U.S. economy, cybersecurity and democratic governance.

Congresswoman Torres said in a statement that El Salvador is an autonomous country and should be allowed to make its own decisions.

"El Salvador is an independent democracy, and we respect its right to self-governance," she said. "But the United States must develop a plan to protect our financial system from the risks of this decision, which appears to be a hasty gamble rather than a thoughtful and innovative embrace."

Meanwhile, Salvadoran President Naib Boucle warned the U.S. Senate to stay out of the country's internal affairs, saying the U.S. has no jurisdiction over El Salvador because the volcanic nation is not a colonial U.S.