Tuesday, October 4, 2022
HomeLaw & PoliticsWe need bitcoin as legal cash: Indira Kempis

We need bitcoin as legal cash: Indira Kempis

Indira Kempis, a senator from Mexico's Nuevo León state, is working on a crypto law that is based on the law in El Salvador called the "Bitcoin Law."

In the midst of El Salvador reporting on the positive impact of the country’s Bitcoin (BTC) adoption, a Mexican government official has once again urged the country to follow El Salvador’s lead on Bitcoin. Indira Kempis, a senator from the state of Nuevo León, thinks that Bitcoin should be legal money in Mexico because it could make the country more financially accessible.

The senator is now working on a cryptocurrency law modelled after El Salvador’s “Bitcoin Law.” Asked about her plans for this year after visiting the country of El Salvador, Kempis said she plans to forward the bitcoin law in Mexico. Kempis added that:

Financial exclusion is one of the major public concerns in Mexico. Blockchain technology will allow us to build an alternative so that millions of individuals may be included in the financial system.

The senator went on to say that governments around the world have a unique chance to solve problems like inequality and get more people into the financial system if they start using Bitcoin. “We need Bitcoin to be legal tender in Mexico because if it isn’t, if we don’t make that choice like in El Salvador, it will be very difficult to take action,” she added. The Senator praised Salvadoran President Nayib Bukele for initiating a Bitcoin revolution that may spread to other countries. 

Other Mexican senators, like Eduardo Murat Hinojosa, were working on crypto-friendly legislation immediately after the Salvadoran Legislative Assembly enacted the Bitcoin Law in early June 2021. El Salvador has made Bitcoin official cash, but the president of Mexico, Andres Manuel Lopez Obrador, has said that his country will not follow suit.

 

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Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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