Hi HODLers,
As we like to say in the Crypto World, "Slowly then suddenly!".
El Salvador made a very big move a few months ago to adopt Bitcoin as legal tender and it seemed to have gone quite well overall.
Now, other Latin American countries are looking to follow them! I would have expected some other smaller countries but today I will talk about Mexico thinking about it and one of its senator drafting a decree to vote on later this year!
Crazy! So close to the Big American brother. I am not fool and I do not think it will pass as the US has too much control over Mexico and this would hit the USD World Domination. But still, just thinking and working on it publicly is a huge signal to other countries.
To start, I wanted to put an important statistic out there:
According to Mexican Senator Kempis, 67 million people, or 56% of Mexico’s population, do not have bank accounts.
Mexican Senator Indira Kempis told the Bitcoin 2022 conference in Miami that the government will propose legislation to "make bitcoin legal tender".
If passed, this law will make Mexico the largest country to adopt Bitcoin as legal tender.
Below are some quotes from this Mexican Senator:
“The Mexican people can have a better quality of life, and we can reduce social inequality around the country,”
“Therefore, we have already been submitting bills (draft laws) to warrant the financial inclusion as a constitutional right for our population – part of freedom."
You can download her decree here
There are already some miners operating in Mexico such as including Chia Network, the company behind the XCH coin.
Gene Hoffman, president of Chia told Capital.com:
“We think that, especially Latin America – places like Mexico, Chile, Brazil, others – are going to be early adopters of blockchain technology,”
Sources:
Bitcoin (BTC) adoption boost: Mexico plans cryptocurrency vote, Capital.com
Mexican President is Considering Making Bitcoin Legal Tender, According to Senator. Cryptopotato.com
