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Will Mexico adopt Bitcoin as a legal tender?

Indira Kempis, a Mexican lawmaker, aims to introduce legislation on a money law as well as a measure to ensure financial inclusion and education.

Samson Mow, who is described as a bitcoin ambassador to nation states, according to David Portnoy of Barstool Sports. According to Kempis, Mow is working with her to set up a meeting with Mexican President Enrique Pena Nieto to discuss the adoption of bitcoin as a legal tender.

The Honduran island, Prospera, is attempting to create a market for bitcoin bonds through the set up of their security token on the Securitize platform.

While those who trade or buy bitcoin in Madeira, a Portuguese autonomous province, will no longer be subject to personal taxes.

These are some of Mow’s new company’s political accomplishments, but Mexico still has a long way to go before it can approach El Salvador’s full official embracement of Bitcoin. This is especially true because the local currency in El Salvador is the US dollar in comparison to Mexico that prints its own currency (Mexican Peso).

This said, Kempis is proof that the decentralised mindset is slowly spreading and becoming normalised.

Photo by Jorge Aguilar

About the author, Leyla Ozturk

Leyla Ozturk, lifelong learner currently immersed in the digital world and the way businesses can step into this world. Deeply fascinated by blockchain, cryptocurrency and the whole Fintech ecosystem. All 3 areas have proven that there are issues within the system, there are ways to improve the system and this disruption is needed for economic growth and improvement.

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