News
Mexico’s central bank is working on legal, administrative and technological requirements for the peso’s digital version.
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Mexico News
Mexico is a federal presidential representative democratic republic in the southern part of North America. According to the International Monetary Fund, the country is the 15th largest country by nominal GDP and the 11th largest country by purchasing power parity. In terms of cryptocurrency, in March 2018, the Mexican government presented its draft legislation which describes Bitcoin as a digital asset and sets regulations on making transactions with virtual money. Due to the high market capitalization, protocols, algorithms, etc., authorities will determine which kinds of cryptocurrency fits the definition of an asset. The main purpose of the law is to raise their national economy by attracting international companies and investors interested in digital currencies.
- Analysis
Women in Latin America are showing an increased interest in Web3 as organizations aim to drive participation through educational content and scholarships.
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The Latin American region now makes up for a 9.1% share of the global crypto value received in 2022 with remittances and high inflation the highest drivers of adoption.
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Mexico has a burgeoning crypto remittance market that has immense potential.
6703 - Opinion
Brazil is already leading the globe in cryptocurrency adoption. Integrating crypto with payment providers in the region is a surefire way to see Latin America fully embrace the industry.
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The expansion may not necessarily include Mercado Bitcoin acquiring a Mexico-based crypto exchange to operate in the country.
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The announcement highlighted that this may spark the launch of more peso-backed stablecoins within the region.
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Senator and outspoken crypto proponent Indira Kempis shared her excitement at the development on Twitter, stating that it was "for freedom, inclusion and financial education in Mexico."
3831 - Video
Billionaire and Bitcoin advocate Ricardo Salinas believes that the growth of Bitcoin is inevitable, but its future depends on how fast and cheap transactions can get.
10146 - News
A Brazilian newspaper, Estadão, reported that Coinbase could complete the acquisition of $2.2 billion 2TM, the company behind Mercado Bitcoin, by April.
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Indira Kempis, a senator representing the Nuevo León state in Mexico, is working on a crypto bill based on El Salvador’s Bitcoin Law.
12481 - News
Founded in 2014 in Mexico, Bitso is now officially present in Argentina, Brazil, El Salvador and Colombia.
3302 - Analysis
Blockchain-powered solutions have been on the front line of the battle against the virus, yet their potential has been underutilized.
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New technologies and a next-generation payment infrastructure would help Mexico become more financially inclusive.
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Life advice from Mexico’s third-richest person: “Don’t be jealous, believe in yourself and buy Bitcoin.”
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