Mexico mulls BTC as legal tender

Mexican senator Indira Kempis has pitched legislation that could see Mexico become the second nation that accepts bitcoin (BTC) as a legal tender after El Salvador.

The move by the Nuevo Leon politician is unlikely to succeed, but it reflects on growing support for BTC and cryptocurrencies.

According to Kempis, her decision is not randomly motivated. She has been consulting with experts who have outlined a possible course to adoption. If not succeeding in pushing BTC as a legal tender, Kempis at least wants to use her influence in politics to raise awareness for BTC among the population and business.

“We need bitcoin to be a legal tender in Mexico, because if not, if we don't make that decision as El Salvador did, it will be very difficult to concretize further actions”, Kempis said, in an interview for Diario El Salvador.

Kempis is unlikely to succeed. Mexico President Andrés Manuel López Obrador has already stated that his government is opposed to the adoption of BTC as a currency, let alone a legal tender in a fashion similar to El Salvador’s.

Obrador has recommended “orthodoxy” in the way finances are regulated. Kempis’ push follows in the steps of a global ambition to introduce more regulation on cryptocurrency.

The European Union is reportedly looking into a new AML body that will be used to look on crypto across the entire continent and beyond.

US President Joe Biden is also expected to offer further guidance on CBDCs and even the Russian Ministry of Finance has pitched a proposed legalization of the crypto sector which is opposed to the idea floated by the Bank of Russia to completely ban crypto.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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