Mexico plans to legalize Bitcoin

Mexico plans to legalize Bitcoin

A Mexican federal congressional senator said that more than half of the country's population does not have an official savings account. The legalization of Bitcoin, in her opinion, can fix this problem.

Mexico plans to legalize Bitcoin

Senator of the Mexican Federal Congress Indira Kempis has introduced a bill that, if passed, would make bitcoin legal tender in the country and establish its fiat equivalent in Mexican law.

Kempis argues for Bitcoin adoption that about half of Mexicans do not have access to the country's traditional financial system, which poses a huge problem for the country. “Measures must be taken to ensure that the use of technology guarantees financial inclusion,” the senator is sure. According to her, 56% of the Mexican population does not have an official savings account, which means that it has practically no effect on the development of the country's financial system.

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However, the Minister of Finance does not agree with her. Arturo Herrera said last month that the use of cryptocurrencies is not legal, adding that the ban is unlikely to change in the near future.