The Finance Minister of Mexico said banks must not conduct transactions in crypto assets due to their instability. However, some Mexican politicians have shown their support for adopting the pioneering cryptocurrency as a legal tender.
There is still controversy around crypto assets within government entities worldwide. In Mexico, the Finance Minister does not recognize cryptocurrencies as a valid exchange method. According to Anthony Pompliano, the Latin American country has missed an opportunity to benefit from those assets.
In recent days, the Secretary of Finance and Public Credit of Mexico, Arturo Herrera Gutiérrez, spoke about cryptocurrencies. He said that they are not part of the economic system of that Spanish-American nation. Likewise, he highlighted that the country’s financial entities must not conduct transactions with such assets.
According to the Mexican official, it is necessary to protect the financial system from the instability of cryptocurrencies. He warned that using crypto assets in Mexico implies taking responsibility for the infringements of the regulations they commit.
Mexican Authorities are Missing an Opportunity to Benefit from Cryptocurrencies
Anthony Pompliano believes that these statements indicate that the Mexican authorities are missing a unique opportunity. He said that they could not benefit from the advantages that the anonymous and decentralized nature of cryptocurrencies offers to the international system. In addition, he noted that these assets could bring many benefits to the local economy of Mexico.
This proponent of the pioneering cryptocurrency commented that the finance minister could realize that he has missed a great opportunity. He said that cryptocurrencies play an essential role in the global, digital and decentralized financial system. The classic dilemma of innovators is to protect what there is for fear of what will be missing.
Cryptocurrencies are still a conflicting element for government entities from several countries. However, Mexico could be missing the opportunity to integrate into the process of international economic globalization, according to Pompliano.
Mexico is Taking Measures for the Adoption of Bitcoin
In recent days, Mexican senator Eduardo Murat Hinojosa recently said that he would introduce a bill before lawmakers. Its objective seems to be the adoption of cryptocurrencies in that country.
The official stated that he would promote and propose a legal framework for cryptocurrencies, specifically Bitcoin, in the lower house of Mexico. He took the measure following the steps of El Salvador by recognizing the legal tender status of the pioneering cryptocurrency.
Politicians from Latin America Show Their Interest in Bitcoin
Politicians from El Salvador, Paraguay, Panama, and Brazil, among others, also support the adoption of Bitcoin. Several countries have been asking for its adoption as a legal tender after the decision of El Salvador.
Carlos Antonio Rejala Helman, a member of the National Congress of Paraguay, said he would work on a project related to Bitcoin.
Mexican senator Indira Kempis MartÃnez also joined the Laser Eyes Trend to support Bitcoin. She modified the profile picture on her Twitter account and shared posts about the first cryptocurrency. Senator Hinojosa has referred to her as a friend of the cause to adopt the crypto asset.
By Alexander Salazar
