Matt Gaetz Who Proposed Bill To Collect Federal Income Taxes In Bitcoin Now Wants Blinken To Downgrade US Travel Advisory To El Salvador

The Congressional El Salvador Caucus urged the Joe Biden administration to ease El Salvador's travel advisory to Level 1 from the current Level 3.

What Happened: Led by Rep. Matt Gaetz (R-Fla.) and Rep. Vicente Gonzalez (D-Texas), the bipartisan caucus sent a letter to Secretary of State Anthony Blinken, requesting the government to ease the advisory to the lowest Level 1, which corresponds to "Exercise Normal Precautions."

Don't Miss:

Currently, the advisory is set to Level 3, or "Reconsider Travel." the second-highest rating.

The letter noted El Salvador's marked improvement in law and order under President Nayib Bukele's regime and called it the "safest" country in the Western Hemisphere.

"Since 2015, El Salvador's homicide rate has been steadily declining, from a high of 104 per 100,000 inhabitants to 2.4 in 2024. This homicide rate is less than nearly every major city in the United States," the letter read.

Trending: 1 in 4 Americans own a share of Bitcoin according to NASDAQ, how many people got started through this free crypto faucet?

For the curious, Gaetz established the Congressional El Salvador Caucus in July, following a congressional trip to El Salvador to attend President Bukele’s second inauguration.

Why It Matters: El Salvador, led by Bukele, has doubled down on Bitcoin (CRYPTO: BTC ) ever since adopting the world's largest digital currency as a legal tender in 2021.

Just two weeks into his second term, the president proposed the establishment of a Bitcoin bank , to diversify financing options for borrowers.

See Also: Don’t miss out on the next Nvidia – you can invest in the future of AI for only $10.

Similarly, Gaetz, a Republican, is well-known for his support for the world’s largest cryptocurrency. In June, he proposed a bill that would allow individual federal income tax payments to be made in Bitcoin .

A big critic of the Federal Reserve, Gaetz also cosponsored a bill aimed at abolishing the central bank.

Price Action : At the time of writing, Bitcoin was exchanging hands at 56,764.63, up 1.83% in the last 24 hours, according to data from Benzinga Pro .

Did You Know?

"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro -

Get the latest stock analysis from Benzinga?

This article Matt Gaetz Who Proposed Bill To Collect Federal Income Taxes In Bitcoin Now Wants Blinken To Downgrade US Travel Advisory To El Salvador originally appeared on Benzinga.com