WASHINGTON – U.S. Senator Jim Risch (R-Idaho), ranking member of the Senate Foreign Relations Committee, today applauded committee passage of S. 3666, legislation to mitigate risks related to El Salvador’s adoption of Bitcoin as legal tender, and S. 816, legislation to recalibrate the State Department’s risk tolerance abroad.
On the Accountability for Cryptocurrency in El Salvador Act:
“As El Salvador has adopted Bitcoin as legal tender, it’s important we understand and mitigate potential risks to the U.S. financial system. Our legislation passed by committee today requires the State Department to coordinate with Treasury and other federal agencies to examine and mitigate these risks, including any potential empowerment of malign actors like China and organized criminal organizations. I’m grateful to Senators Menendez and Cassidy for their partnership on this legislation.”
On the Diplomatic Support and Security Act:
“The State Department has rightfully sought to protect our diplomatic personnel in high risk, high threat environments. However, in attempting to achieve complete security and eliminate risk, the department routinely stifles the ability of our diplomats to get outside of embassy walls and meet face-to-face with local leaders and communities. Our adversaries do not place such burdens on their diplomats.
“The Diplomatic Support and Security Act commends the State Department’s efforts to protect diplomatic personnel, but recognizes the pendulum has swung too far toward eliminating risk. This legislation will help recalibrate an appropriate risk tolerance, and I thank Senator Murphy for working with me on it.”
A full list of legislation led or cosponsored by Senator Risch that passed out of committee today includes:
S. 3666 – Accountability for Cryptocurrency in El Salvador Act
S. 816 – Diplomatic Support and Security Act
S. Res. 446 – A resolution commending the Government of Lithuania for its resolve in increasing ties with Taiwan and supporting its firm stance against coercion by the Chinese Communist Party.
S. 3591 – United States-Ecuador Partnership Act
S. Res. 456 – A resolution expressing support for a free, fair, and peaceful December 4, 2021, election in The Gambia.
S. Con. Res. 20 – A concurrent resolution condemning the October 25, 2021, military coup in Sudan and standing with the people of Sudan.
S. Res. 473 – A resolution expressing the sense of the Senate on the necessity of maintaining the United Nations arms embargo on South Sudan until conditions for peace, stability, democracy, and development exist.
S. Res. 427 – A resolution to commemorate the 30-year anniversary of the 1991 Paris Peace Agreements with Cambodia and to call upon all signatories to those Agreements to fulfill their commitments to secure a peaceful, prosperous, democratic, and sovereign Cambodia.