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.
The announcement highlighted that this may spark the launch of more peso-backed stablecoins within the region.
Tether launches stablecoin pegged to pesos on Ethereum, Tron and Polygon
Senator and outspoken crypto proponent Indira Kempis shared her excitement at the development on Twitter, stating that it was "for freedom, inclusion and financ...
Bitcoin ATM installed in Mexico's Senate Building
Billionaire and Bitcoin advocate Ricardo Salinas believes that the growth of Bitcoin is inevitable, but its future depends on how fast and cheap transactions ca...
Making Bitcoin legal tender in Mexico will be ‘an uphill battle,’ says Ricardo Salinas
A Brazilian newspaper, Estadão, reported that Coinbase could complete the acquisition of $2.2 billion 2TM, the company behind Mercado Bitcoin, by April.
Coinbase to reportedly buy the $2.2B Brazilian unicorn behind Mercado Bitcoin
Indira Kempis, a senator representing the Nuevo León state in Mexico, is working on a crypto bill based on El Salvador’s Bitcoin Law.
Mexican senator to propose crypto law: ‘We need Bitcoin as legal tender’
Founded in 2014 in Mexico, Bitso is now officially present in Argentina, Brazil, El Salvador and Colombia.
Top Latin American exchange Bitso officially expands to Colombia
Blockchain-powered solutions have been on the front line of the battle against the virus, yet their potential has been underutilized.
The virus killer: How blockchain contributes to the fight against COVID-19