Fun

Senator Indira Kempis Proposes Bill to Make Bitcoin Legal Tender in Mexico

News Feed - 2022-07-02 05:07:31

Senator Indira Kempis Proposes Bill to Make Bitcoin Legal Tender in Mexico


Indira Kempis, senator of the Mexican Congress, has proposed a bill that would make bitcoin legal tender in the country. The bill bases its action on the hardships that Mexican citizens are facing went trying to access financial products and education. However, the Central Bank of Mexico has been against the introduction of bitcoin into the financial system of the country. Bill Proposes to Make Bitcoin Legal Tender in Mexico


Mexico is another of the countries in Latam that is taking a look at what bitcoin might bring when introduced to its economy. This week, Senator Indira Kempis introduced a bill that would amend the current monetary law of Mexico to introduce bitcoin as legal tender in the country. The bill, which seeks to mimic the action of El Salvador, the first country in the world to adopt bitcoin as legal tender, mentions that this might help to change the financial literacy of many citizens.


The document puts the basis of its proposal on the fact that Mexico is one of the countries in the continent with less financial inclusion and education. According to the proposal, 56% of the Mexican population still lacks access to a bank account, meaning that more than 67 million people still have no access to the most basic of financial instruments.


In the same vein, 68% of citizens don’t have access to financial education, which ostensibly renders most Mexicans unable to take educated decisions regarding savings, mortgages, or how to deal with credit. Central Bank Digital Currency vs Bitcoin


However, the bill proposed by Senator Kempis clashes with the course of action that the government and the Central Bank of Mexico have followed. In January, the institution announced that it was working on the creation of a digital peso, its own central bank digital currency (CBDC), and that it was expected to be in circulation by 2024 as a way of aiding Mexicans in their financial inclusion problems.


Also, the finance minister of Mexico, Arturo Herrera, stated in June that the use of cryptocurrencies was prohibited inside the Mexican financial system, remarking that his prohibition was not likely to change in the short term. This measure was announced after Ricardo Salinas Pliego, one of the richest men in Mexico, reported he was working to make Banco Azteca the first bank to accept bitcoin in the country. Tags in this story Bitcoin, El Salvador, financial education, financial inclusion, indira kempis, legal tender, Mexican congress, Mexico


What do you think about the amendment proposed in Mexico to make bitcoin legal tender? Tell us in the comments section below. Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. US Regulator Charges South African MTI and Its Operator With $1.7 Billion Fraud Involving Bitcoin REGULATION | 6 hours ago EU Agreement Reached on Anti-money Laundering Rules for Cryptocurrencies REGULATION | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleStudy: AUM of Crypto Investment Products at Record Lows in June, Trust Products Garner Lowest Total Since December 2020 Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales


Non-fungible token (NFT) sales saw a small uptick over the last week as $658.4 million in NFT sales were recorded, up 3.35% in seven days. Out of 15 blockchains, Polygon-based NFT sales saw the largest increase in volume, jumping 106.68% ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms

News Feed

US Bitcoin ETFs ‘on track’ to top Satoshi’s BTC stack soon
Jesse Coghlan7 hours agoUS Bitcoin ETFs ‘on track’ to top Satoshi’s BTC stack soonUnited States Bitcoin ETFs have added around 37,510 BTC to their holdings each month on average and could soon surpass Satoshi Nakam
BCH Merchant Directories Now List 4,300 Bitcoin Cash-Accepting Businesses
BCH Merchant Directories Now List 4,300 Bitcoin Cash-Accepting Businesses Businesses around the world continue to adopt bitcoin cash (BCH) and in 2020 merchant acceptance continu
Kraken CEO Calls on Congress to Protect US Crypto Industry Following Settlement With SEC Over Staking Program
Kraken CEO Calls on Congress to Protect US Crypto Industry Following Settlement With SEC Over Staking Program The CEO of crypto exchange Kraken, Jesse Powell, has called on Congres
How Web3 is transforming global regulatory frameworks
Savannah Fortis11 hours agoHow Web3 is transforming global regulatory frameworksAt the 2024 Proof of Talk event in Paris, France Jenny Johnson CEO of Franklin Templeton and Mo Shaikh the founder of Aptos explained the pr
Goldman Sachs Files Defi ETF Application
Goldman Sachs Files Defi ETF Application Goldman Sachs, one of the biggest banking institutions in the world, has filed an application to offer an Exchange Trade
Bitcoin Taker Buy/Sell Ratio Spikes On Major Exchanges — Time To Buy?
Este artículo también está disponible en español. The price of Bitcoin has not shown any serious momentum so far in 2025 besides briefly surpassing the $108,000 level in
Bitcoin Heating Up? NVT Golden Cross Hints At Potential Local Top
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
XRP Network Activity Hits All-Time High Despite Market Volatility – Bullish Signal?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Kazakhstan Cracks Down on Illegal Mining, Busts 13 Crypto Farms
Kazakhstan Cracks Down on Illegal Mining, Busts 13 Crypto Farms Authorities in Kazakhstan have gone after illegal crypto mining operations amid ongoing issues with electricity supp
Report: Andreessen Horowitz Seeks an Investment in Bored Ape Yacht Club
Report: Andreessen Horowitz Seeks an Investment in Bored Ape Yacht Club Two reports claim that the creators of the popular non-fungible token (NFT) project Bored Ape Yacht Club (BA
WhatsApp and Signal survive EU chat control bill — For now
Robert D. Knight10 hours agoWhatsApp and Signal survive EU chat control bill — For nowEU legislators have dropped plans to scan messaging apps, but privacy advocates can’t celebrate just yet.1518 Total views8 Total s
Russian Government Drafts Roadmap to Regulate, Not Ban Crypto, Report Unveils
Russian Government Drafts Roadmap to Regulate, Not Ban Crypto, Report Unveils A roadmap on cryptocurrencies has been prepared by a number of ministries, regulatory bodies, and law