El Salvador President Nayib Bukele Tells US Senators "OK Boomers" Over Bitcoin Bill
El Salvador\'s President Nayib Bukele is firing back at U.S. senators over proposed legislation targeting the country\'s Bitcoin adoption. The spat highlights growing tensions between the two nations regarding El Salvador\'s embrace of cryptocurrency.
Senators Jim Risch, Bill Cassidy, and Bob Menendez introduced the Accountability for Cryptocurrency in El Salvador (ACES) Act on Wednesday. If passed, the bill would require the State Department to report on El Salvador\'s Bitcoin Law and its potential impacts, focusing on "mitigate potential risks to the U.S. financial" system.
In response, Nayib Bukele, source a screenshot Instagram nayibbukele, didn\'t hold back. He directly addressed the senators, stating, "We are not your colony, your back yard or your front yard." He then delivered the now-viral blow: "OK boomers."
This isn\'t the first time President Bukele has used strong language regarding international institutions. Weeks after memeing the International Monetary Fund (IMF), El Salvador’s outspoken President is again making headlines for his outspokenness. This time, his target is the U.S. Senate. The proposed legislation aims to prevent the Latin American country from what some perceive as risky financial moves.
The ACES Act seeks to assess the impacts of El Salvador\'s Bitcoin Law, including potential risks to cybersecurity and financial stability. While the senators frame it as a measure to protect the U.S. financial system, Bukele sees it as unwarranted interference in El Salvador\'s sovereign decisions. He views this as Senators introduce legislation to report on El Salvador\'s Bitcoin adoption and perceives their bill as a form of neocolonialism.
El Salvador’s president rebuked several U.S. senators on Wednesday for introducing legislation targeting the Latin American country’s adoption of bitcoin as legal tender. President Nayib Bukele has called three US senators “boomers” over legislation they introduced to assess the impacts of El Salvador’s Bitcoin Law; Bukele, whose bold move to embrace Bitcoin has drawn both praise and criticism, continues to defend his country\'s right to self-determination.
President Nayib Bukele denounced on Wednesday an effort by U.S. senators to introduce legislation that would examine El Salvador’s adoption of Bitcoin, stating definitively, “Stay out.” The debate underscores the complex and evolving relationship between El Salvador and the United States in the age of cryptocurrency.