President Of El Salvador Does Not Want To Be Dictated To By The US On Domestic Affairs, Especially About Bitcoin

JAKARTA - El Salvador's President, Nayib Bukele, on Wednesday, February 16 asked US senators to stay away from his country's "domestic affairs". This comes after the US called for an investigation into the economic risks facing the United States due to the adoption of bitcoin in the Central American country as a legal tender.

Senators Jim Risch, Bill Cassidy and Bob Mendez asked the US State Department to submit a report on bitcoin implementation in El Salvador with the aim of assessing the risks it poses to the US economy.

"Ok boomers... you have 0 jurisdiction over a sovereign and independent country," Bukele said, in a tweet, referring to the older generation of "baby boomers". "We are not your colony, your backyard or your front yard. Stay away from our internal affairs. Don't try to control something you can't control."

As reported by Reuters, El Salvador was the first country in the world to adopt cryptocurrency for official use, on par with the US dollar. The decision has drawn strong criticism from the International Monetary Fund (IMF).

US senators also expressed fear over the fact that adopting bitcoin could weaken the US government's sanctions policies and increase the activity of criminal organizations.

"This new policy has the potential to undermine US sanctions policy, empowering bad actors such as China and organized criminal organizations. Our bipartisan legislation seeks greater clarity on El Salvador's policies," the senators said in a statement.

The Salvadoran government, which has acquired some 1.801 bitcoins since September 2021, has also been questioned by economists and the opposition for its refusal to take responsibility for the process of buying and managing the fund.

Diplomatic relations between El Salvador and the United States have soured after the White House publicly denounced corruption in the Bukele administration and the escalation of action to amass power.