Mexican senator to propose crypto law: ‘We need Bitcoin as legal tender’

Mexican senator to propose crypto law: ‘We need Bitcoin as legal tender’

El Salvador is reporting on positive cases of Bitcoin adoption in El Salvador, and a Mexican government official has once more urged Mexico to follow El Salvador’s lead on Bitcoin.

Indira Kempis is a senator from Nuevo Leon and believes that Bitcoin should become legal tender in Mexico as its adoption could lead to global financial inclusion.

Kempis, who visited El Salvador just weeks ago, is currently working on a cryptocurrency bill that will be based on El Salvador’s Bitcoin Law.

Kempis stated, “It is obvious to me that financial exclusion [is] one of the most pressing public problems that very few of us have dealt with with viable alternatives. This type of technology allows us to create an alternative so that millions can be included in our financial system.”

He stated that Bitcoin adoption was a historic opportunity for countries all over the globe to address issues such as inequality and reach financial inclusion.

“We need Bitcoin to be legal tender in Mexico, because if it is not so, if we do not make that decision as El Salvador did, it is very difficult to take action.”https://t.co/rzNJRigp5u https://t.co/rzNJRigp5u
— Indira Kempis de I. (@IndiraKempis February 22, 2022

A senator suggested that Nayib Bukele, the Salvadoran President, could have initiated a Bitcoin revolution that could reach all countries. She said that making Bitcoin legal means creating a level playing ground for those who are exempt in nearly all countries.

Kempis was elected to office in 2018. She joined the laser eyes movement July 2018 and has been active in promoting crypto in the recent years. The senator has been involved in the cryptocurrency industry for many years and is surrounded by crypto developers, entrepreneurs, and enthusiasts.

According to previous reports, Eduardo Murat Hinojosa and other Mexican senators were working on crypto-friendly legislation soon after the Salvadoran Legislative Assembly adopted the Bitcoin Law in June 2021. Andres Manuel Lopez Obrador, the Mexican president, declared that Mexico was unlikely to adopt Bitcoin as legal currency.

Related: Mexico confirms its plans to launch CBDCs by 2024

This news comes amid growing momentum in the cryptocurrency industry in Mexico, with major crypto exchange Coinbase offering instant crypto withdrawals to Mexican pesos.

Grupo Salinas founder and Mexican billionaire Ricardo Salinas Pliego took to Twitter to urge the public to buy BTC.

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