BlockchainThe Mexican president has no plans to legalize Bitcoin

The Mexican president has no plans to legalize Bitcoin

The Mexican president has no plans to legalize Bitcoin, and would rather tackle a more classic problem than embark on a race for financial innovation. Bitcoin has other support, however, both in the political and economic circles of the country.

Mexico and Bitcoin: a no, for the Mexican president

The President of Mexico, Andrés Manuel Lopez Obrador, aka AMLO, told a press conference on October 14, 2021, that his country will not adopt Bitcoin as legal tender  :

“We are not going to change on this point. We believe that we must maintain orthodoxy in financial management [and] not try to innovate too much in financial management ”.

According to him, the government will instead focus its attention on the mechanisms for preventing tax evasion , in order to ensure ”  that there are no privileges, that everyone contributes to the national effort.”

Bitcoin the new gold, Mexico in El Salvador’s footsteps

Obrador’s position is not unanimous, however. Nuevo Leon State Senator Indira Kempis supports El Salvador’s decision to make Bitcoin legal tender . In her speech during Talent Land Digital 2021, she called on Mexico to follow this path:

“When will Mexico stop with these digital delays so that we can deal with our problems, why is El Salvador succeeding and why not Mexico, which has similar conditions?” “

Major economic players are also supporting cryptocurrencies in the country. The third richest man in Mexico, Ricardo Salinas Pliego, had once again shown his support for Bitcoin in a tweet on June 27, 2021. There he declared his intention to open the first bank accepting Bitcoin in Mexico . Salinas had previously claimed that it was “absolutely correct” to view Bitcoin as the new digital gold.

Mexico will therefore not imitate El Salvador , according to its president. The country further indicated in 2020 that cartels were increasingly using cryptocurrencies to launder their money. Financial orthodoxy and this criminal image of cryptocurrencies can be put forward as arguments by the country’s authorities, to justify their closure to Bitcoin and its cadets.

Stephan Evans
Stephan Evanshttps://www.newsalarms.com/
I'm the Man in charge of News Alarms, but also getting all the reviews up on the website, so you can thank me for all those shining stars – or blame me for a lack of them. I also spend my time working my SEO magic to try and coax the Google Juice to flow in our favor.

Latest news

World AI Show Wraps Up Landmark Indonesia Edition, Announces 46th Global Edition in Kuala Lumpur, Malaysia

World AI Show Indonesia concludes with high-level dialogues, government and industry engagement on artificial intelligence innovation as Trescon names...

SenturoPay Goes Live with All-in-One Crypto Spend App and Card Solution

Launch introduces a streamlined platform where users can send, spend, and manage crypto instantly—without friction or delay. The wait for...

Nitin Bhatnagar Urges Industry to Prioritise Purpose-Driven Design and Sustainable Living

Dubai, UAE, 10th July 2025, ZEX PR WIRE, In a newly released interview, Dubai-based entrepreneur Nitin Bhatnagar has called...

Brian Gould of TruLife Distribution: “AI‑Custom Nutrition Is Here – But Has Your Supply Chain Kept Up?”

Flordia, US, 10th July 2025, ZEX PR WIRE, AI-powered personalized nutrition tools are gaining mainstream traction in 2025. Based...

Web V8: Australia’s Fastest-Growing Web Design Agency That Puts Speed, Substance, and Small Business First

Parramatta, NSW, 10th July 2025, ZEX PR WIRE, In a market flooded with templated websites, offshore developers, and long...

Locksmith Solutions Introduces Next-Generation Security Upgrades for the Homes and Businesses

New Smart Access Controls and High-Security Systems Now Available for Las Vegas Residents and Businesses. Las Vegas, NV, 10th July...

Must read

SenturoPay Goes Live with All-in-One Crypto Spend App and Card Solution

Launch introduces a streamlined platform where users can send,...

MFEV Marathon Success in Serbia: Celebrating Runners, Community, and Charity

MFEV proudly announces the successful conclusion of the MFEV...

Top Cryptos Under $1 to Buy in 2024: Invest Now!

Top Cryptocurrencies to Consider for 2024: Best Picks for...

Must-Grab Crypto Airdrops This August 2024

Get Ready for Exciting Upcoming Crypto Airdrops! Prepare yourself for...

Trending Now: The 5 Best Tap-To-Earn Games Across the Globe

Earn Crypto with These Top 5 Tap-to-Earn Telegram Games The...

You might also like
Recommended to you