‘We need Bitcoin as legal tender’

Kishore Hore

BITCOIN

[ad_1]

In the middle of El Salvador reporting positive impact cases of the country’s Bitcoin (BTC) adoption, a Mexican government official has once again urged that the country should follow El Salvador’s example in Bitcoin.

Indira Kempis, a senator representing the state of Nuevo León, is confident that Bitcoin should be legal tender in Mexico because its adoption can potentially boost global financial inclusion.

The senator is now developing a cryptocurrency bill based on The “Bitcoin Law” of El Salvador.” She hopes to present the bill to the Mexican Congress this year, Kempis said in an interview with the publication El Salvador In English after visiting El Salvador a few weeks ago.

“It is clear to me that financial exclusion is one of the public problems that few of us have addressed with feasible alternatives, and that this type of technology is allowing us to generate an alternative so that millions of people can be included in the financial system. Kempis said.

The senator went on to say that the adoption of Bitcoin is a historic opportunity for countries around the world to address issues such as inequality and achieve financial inclusion, stating:

“We need Bitcoin to be legal tender in Mexico, because if it isn’t, if we don’t make that decision like El Salvador did, it’s very difficult to take action.”

The senator also suggested that Salvadoran President Nayib Bukele could have started a Bitcoin revolution that has the potential to reach every country. “Making Bitcoin legal tender means putting a level playing field for people who are excluded in almost every country,” he added.

Taking office in 2018, Kempis has been actively promoting the crypto industry in recent years, joining the laser eye movement in July 2018. She has been in the cryptocurrency industry for years, surrounded by a community of crypto entrepreneurs, developers and enthusiasts, the senator said, adding, “Now that I am participating in politics, I am looking to promote it.”

As previously reported, other Mexican senators, including Eduardo Murat Hinojosa, were working on crypto-friendly legislation shortly after the Salvadoran Legislative Assembly. passed the Bitcoin Law in early June 2021. In October, Mexican President Andrés Manuel López Obrador declared that the country was unlikely to follow in El Salvador’s footsteps by adopting Bitcoin as legal tender.

Related: Mexico confirms plans to implement CBDC in 2024

The latest news comes amid the growing momentum of the cryptocurrency industry in Mexico recently, with major global cryptocurrency exchange Coinbase launching instant cryptocurrency withdrawals in Mexican pesos last week.

Ricardo Salinas Pliego, a Mexican billionaire businessman and founder of Grupo Salinas, took to Twitter last Friday to advise the public to buy BTC and “forget about selling.” He previously advised people to buy BTC in late 2021, calling fiat money like dollars and euros “fake money made of paper lies.”