Mexican president ruled out the possibility of accepting cryptocurrencies as legal tender

Mexican President Andrés Manuel López Obrador stated that the country is unlikely to follow in El Salvador’s footsteps and use Bitcoin and other cryptocurrencies together with legal tender as legal tender. currency.

At the press conference on October 14, Obrador, also known as AMLO, Said Mexico “must maintain orthodoxy” in its financial management and will not change its position on cryptocurrencies.The Bank of Mexico and the National Bank and Securities Commission issued a statement in June Warn financial institutions “Not authorized to use virtual assets to provide services to public operations,” but the president does not often speak directly on this issue.

AMLO is responding to a reporter asking whether Mexico will consider following the example of El Salvador, where Bitcoin (Bitcoin) already Accepted as legal tender Since September. He added that despite the many innovations in the financial sector, Mexico should also pay attention to issues surrounding tax evasion.

Mexico has at least two lawmakers It is recommended that the country adopt digital assets “Leading the transition to cryptocurrency and financial technology.” Billionaire, one of Mexico’s richest people, and founder of Banco Azteca Ricardo Salinas Pliego (Ricardo Salinas Pliego) also said, Major banks will explore Accept cryptocurrency.Although many people in the public and private sectors in the country support the use of cryptocurrency, the authorities of the country reported in 2020 Cartels are increasingly laundering money And digital assets.

related: The governor of the Central Bank of Mexico calls Bitcoin transactions “similar to barter transactions”

Other countries in Latin America seem to have been taking steps to increase the adoption of cryptocurrencies, but after President Nayib Bukele announced that he would promote bitcoin fiat currency, El Salvador saw resistance. In September, residents Burned a Chivo encrypted kiosk It was held in the country’s capital during the protest march against Buckler’s policy.