Mexican President Andres Manuel Lopez Obrador has denied any interest in accepting cryptocurrency as a legal tender in the country. Statements at a news conference at the National Palace this week also confirmed that the Mexican government would conduct the country’s finances in a traditional, conservative and orthodox manner.
Mexico will not accept Bitcoin as a legal tender
The Mexican president expressed his views on bitcoin and cryptocurrency earlier this week. At a news conference at the National Palace, Lopez Obrador denied any interest in accepting Bitcoin as a legal tender, as El Salvador did earlier this year. Asked about this to a journalist, he said,
No. We are not going to change this direction. We find it appropriate to maintain orthodoxy in financial management. We are not trying to innovate much in the financial system.
The statements continue Mexico’s position on cryptocurrency to this day. Lopez Obrador said instead that they would pay special attention to the tax situation in the country, so that tax collection would be normal, so that there would be no evasion.
We will ensure that there is no tax evasion and opportunity in tax payment. That’s enough.
Trouble with crypto
The current government of Mexico has a negative relationship with cryptocurrency. Bank of Mexico President Alejandro Diaz has denied that Bitcoin is a good repository of value, based on money or its volatility, back in September. On the same terms, Finance Minister Arturo Herrera said in June that cryptocurrencies could not be used in the country’s financial system “to maintain a healthy distance between them and the financial system.”
However, this did not deter people from learning and incorporating crypto into their investment portfolios and businesses. Ricardo Salinas, one of the richest men in the country, said Banco Azteca, his bank, was the first to introduce bitcoin into the country. Indeed, these statements persuaded the finance minister to make it clear that cryptocurrencies must be different from traditional cryptocurrencies, as explained earlier.
In September, Salinas, who also owns Electra, one of Mexico’s largest retail franchises, hinted at accepting Bitcoin payments in their stores using Lightning Network, a second-tier protocol designed to allow low-fee transactions. .
What do you think of the Mexican president’s views on not accepting bitcoin as a legal tender in the country? Tell us in the comments section below.
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