Victoria Nuland, the U.S. Department of State’s Assistant Secretary of State for Political Affairs Victoria Nuland, stated that El Salvador should ensure that Bitcoin is properly regulated within its new legal framework.

Following a meeting with President Nayib Bukele’s Wednesday press conference, Nuland stated that the United States is taking a hard look at Bitcoin following the ransomware attack against the Colonial Pipeline. He suggested El Salvador adopt a similar approach. In June, the country approved a law making Bitcoin ( BTC ) legal tender. This legislation will be in effect starting Sept. 7.

Nuland stated that he suggested to the President that whatever Salvador decides to do regarding Bitcoin, he ensure it is well-regulated, transparent, responsible, and protect himself against malign actors.

#ElSalvadorVictoriaNuland aseguro qu’en su reunion conel presidente@nayibbukele conversaron sobre el implementacion del @Bitcoin, como moneda legal de curso en el Pais.

Via @cardozaTCS. pic.twitter.com/NsWmqsY3u0

TCS Noticias (@tcsnoticias).July 1, 2021

Nuland met with President and Minister of Foreign Affairs Alexandra Hill-Tinoco during a trip to El Salvador, Paraguay, and Panama at June’s end to discuss migration, democracy and other regional goals.

It seems that crypto was part of the plan. After the Colonial Pipeline cyberattack, which caused gas hoarding in some areas and shortages elsewhere in the United States, U.S. officials, including President Joe Biden, have made public statements regarding ransomware attacks on critical infrastructure.

As the International Monetary Fund (IMF) is meeting with legislators in Central America, the U.S. and El Salvador officials discuss Bitcoin. Although the U.S. State Department supports this financial agreement, the IMF expressed concern over El Salvador’s recent adoption. The IMF stated that the move raises a lot of legal, macroeconomic and financial issues that need to be carefully analyzed.