Is Mexico looking for Bitcoin to be legal tender?

Mexico Bitcoin
  • Senator Indira Kempis recently proposed a reform of the Mexican Monetary Law.
  • Kempis aspires for the Bitcoin cryptocurrency to be recognized as legal tender in the country.
  • In this way, the North American nation could become the third to give Bitcoin legal tender status, along with El Salvador and the Central African Republic.

Support us with crypto to keep our newspaper alive

Mexico could become the third country in the world, and the second in Latin America, to recognize Bitcoin as legal tender. This could be a reality if the recent reform of Senator Indira Kempis before the Federal Congress of Mexico is approved. The legislator proposed to give legal status to the cryptocurrency created by Satoshi Nakamoto.

In her amendment proposal, the senator for the state of Nuevo León proposes to amend by addition article 2 of the current Monetary Law of the United Mexican States. Kempis’ aspiration is that said article includes the following: “Bitcoin (BTC) will be considered legal tender in the Mexican Republic.”

The most recent legal project presented by Kempis before her Mexican peers are the third in a series of proposals, referring to digital currencies, that the senator has been proposing. Unlike the previous two, this one does mention Bitcoin, as she had started months ago at the 2022 edition of the world’s most important Bitcoin event, the Bitcoin Conference.

Likewise, as reported by Market Times in February of this year, after a visit to El Salvador to learn about the experience of adopting Bitcoin in that country, Senator Kempis shared her intention to present a bill in Mexico based on the Bitcoin Law. Salvadoran. On that occasion, Ella Kempis said: “There is no going back with bitcoin. The best legacy we can leave as legislators for our future is that”, She specified.

Kempis’s third proposal, which is in line with what she had been saying for months about Bitcoin in Mexico, is inspired by the unbanked population. Kempis added that “it is necessary to carry out actions so that with the use of technology financial inclusion can be promoted and guaranteed”, emphasizing that in Mexico more than half of the population does not have a bank account.