5 months ago
Date: 03 Jul 2022 - 14:25

The post Mexican Senator Introduces Bill to Make Bitcoin a Legal Tender appeared first on Coinpedia Fintech amp Cryptocurreny News Media Crypto GuideMexican Senator Indira Kempis proposed a bill in the assemble to make Bitcoin legal tender in the country. The reason given by the senator is that it will bridge the gap between access to financial products and education for the Mexican citizens.nbspAlthough Kempis had presented two proposals for law change in assembly in April 2021 but none of them mentioned Bitcoin or any other decentralized digital assets. The Central Bank of Mexico has been against the introduction of Bitcoin in the financial system of the country.nbspEl Salvador was the country to make Bitcoin a part of their financial system the same is being done in Mexico. The proposed bill seeks to make Bitcoin as legal tender so that it can help change the financial literacy of many citizens.nbspAccording to the proposal approximately 56 percent of Mexican population do not have access to bank accounts. This means that more than 67 million people still have no access to one of the basic financial instruments. Approximately 68 percent of the citizens have no financial education.However the proposed bill clashes with the set course of the government and Central Bank of Mexico. The Central bank in January had announces that they are working on creation of a digital peso its own Central bank digital currency CBDC and it was expected to start circulation from 2024 to aid Mexicans and their financial inclusion issues.

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