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Mexican Senator Plans to Introduce Bitcoin Legal Bidding Bill

Mexican Senator for the State of Nuevo León, Indira Kempis, has stated that she wants to make the country the second after El Salvador to adopt Bitcoin. However, the chances of this actually happening are slim at best.

Speaking to local media this week, she noted that she intends to promote the use of Bitcoin in the country and use her political stance to achieve that goal.

“We need bitcoin to be legal tender in Mexico, because if that’s not the case, if we don’t make this decision like El Salvador did, it’s very difficult to act.”

During the interview with Diario El Salvador, she added that El Salvador is “arguably becoming the world’s most important center or laboratory on the future of bitcoin.”

🌎 #Bitcoin

«El Salvador is becoming the most important hub in the world about the future with bitcoin»

Thanks for the interview @elsalvador

👉🏾 the moon 🚀#financial inclusion

— Indira Kempis from I. (@IndiraKempis) February 21, 2022

Bitcoin Adoption in Mexico

She commented on the problems of financial exclusion and the unbanked, citing cryptocurrency as a viable solution.

“It is clear to me that financial exclusion is one of the public problems that few of us address with viable alternatives, and that this type of technology is allowing us to generate an alternative, a path, a solution so that millions of people can be included in the financial system”.

Kempis, working on a legal framework for cryptocurrencies, continued to emphasize the need for legislation that would allow BTC to be used as currency. She intends to introduce a bill proposing this in the current parliamentary session.

The initiative can be an uphill struggle, however. Last year, Mexico’s President Andrés Manuel López Obrador said his government is not interested in Bitcoin adoption and is more concerned about tax evasion. His term ends in 2024, so there could be a long wait for Kempis. The central bank also plans to launch a digital peso by 2024, as reported by CryptoPotato.

The third richest man in Mexico, Ricardo Salinas Pliego, thinks otherwise and doubled down on Bitcoin’s previous statements. Over the weekend, he tweeted: “You have to buy bitcoin (keep buying when price is low), so just hold your BTC, forget about selling… Trust me, you will thank me later.”

El Salvador BTC Bonds in Demand

El Salvador’s adoption of Bitcoin has had a mixed reaction; however, it was recently reported that there was a lot of demand for its BTC Bonds.

According to Blockstream’s Samson Mow, who is supporting the effort, Bitcoin bonds have already received $500 million in “verbal commitments.” That’s halfway to hitting the $1 billion goal in less than four months.

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About the author


I am CBC, I am a Crypto expert and a part-time blogger. I usually write about how and where to buy crypto coins in legit ways.

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