During the Bitcoin Conference 2022, Mexican Lawmaker Indira Kempis expressed her desire to introduce legislation within the next two months that would make Bitcoin legal currency in Mexico.
Along with Samson Mow, ex-chief strategy officer of Blockstream, Indira Kempis highlighted that the law will change Fintech and Monetary Law restrictions to make Bitcoin a fundamental right for the whole public.
Purpose to make Bitcoin a legal tender
As per Kempis, 66 million Mexicans are unable to access the banking system. As a result, the senator suggests Bitcoin as a solution to this problem, providing inclusivity as well as financial education.
On the legality of bitcoin, the Mexican senator earlier in February 2022 expressed the followings:
“….Making bitcoin a legal tender will serve the level playing field for those who are really disadvantaged in almost every country. We want bitcoin to be legal money in Mexico because if it is not, and if we do not adopt the same resolution as El Salvador, it will be extremely difficult to take action….”
Kempis suggested a possible discussion with Mexican President Andres Manuel Lopez Obrador during her remarks. The two will talk about her plan to make Bitcoin legal money in the country, with the goal of improving quality of life and reducing social injustice.
Mexico and Bitcoin
There are currently no cryptocurrency rules in Mexico, while some senators, notably Kempis, have stated their aim to build a legal crypto framework, citing El Salvador as an inspiration.
Do you think that making bitcoin a legal tender will resolve the fundamental problems of extreme poverty by providing them with social inclusion and social justice? What are your thoughts, let us know by commenting below.
