The senator to the federal congress of Mexico Indira Kempis introduced a reform that proposes bitcoin (BTC) as legal tender, framed in the Monetary Law of that country.
“It is reformed by adding article 2 of the Monetary Law of the United Mexican States to be as follows: Article 2 Bitcoin (BTC) will be considered as legal tender in the Mexican Republic,” says the document introduced in parliament.
Although Kempis introduced two legal reform initiatives in Congress, last April, none mentioned bitcoin or other decentralized digital assetsa fact reported by CriptoNoticias.
The proposed change, at that time, was to article 2 of the legislation. There it was established “to include virtual assets as part of the digital species that may be circulating in the national territory, for this, it establishes that only the central bank may be the one who issues a digital currency.”
Bypassing Bitcoin Completelyeven though in his participation in the Bitcoin Conference 2022, held in Miami, last April, he said that the leading cryptocurrency would be included in the reform.
Now the senator for the state of Nueva León proposes the reform that includes bitcoin. She thus fulfilling what was expressed during her participation in Miami.
More than half of Mexicans without a bank account
Kempis justifies the adoption of bitcoin in the paper because roughly half of Mexicans are excluded from the financial systemwhich generates a problem of an important magnitude in the country.
“It is necessary to take action [adoptar bitcoin] so that with the use of technology, financial inclusion can be promoted and guaranteed”, he indicates.
56% of the Mexican population does not have a formal savings account and according to Kempis, this translates into lack of trust and interest in banking institutions so that this sector of the population can access a formal financial product for savings.
A CBDC is well seen in Mexico
For their part, Mexican regulars are more inclined to develop a central bank digital currency, instead of creating legislation for cryptocurrencies such as bitcoin.
In December of last year, the authorities of the Bank of Mexico (Banxico) announced that the digital currency could be ready in 2024, because they recognize the need and the potential to extend the functionalities of legal tender through the potential implementation of digital currencies. issued by the Central Bank.