Efforts are on in Mexico to legalise Bitcoin by installing a Bitcoin ATM in the Senate building.
ChainBytes and Axolotl Bitcoin have installed the first Bitcoin ATM in the Mexican Senate building, according to a Wednesday news release.
Sen. Indira Kempis wants to become Bitcoin Mexico’s official currency, and this installation is designed to help her achieve that goal.
In Kempis’ opinion, financial independence and inclusiveness are two of the most important benefits of cryptocurrencies. She thinks that politicians will be able to get a grasp on the most popular digital asset.
chainbytes CEO eric grill calls it a historic occasion for the nation to place a bitcoin ATM in the Senate building. Her efforts to legalise Bitcoin are certain to fail. Bitcoin has been ruled out as a form of payment by Mexican President Andres Manuel Lopez Obrador, according to US Today.
Introducing Bitcoin as a legal currency alongside the Mexican peso may be too destabilizing for the country’s financial system, given millions of Mexicans do not have access to the banking system.
Earlier today, the Central African Republic declared that it has become just the second nation in the world to embrace Bitcoin as legal cash.
Last September, El Salvador became the first government in Central America to legalise Bitcoin as a currency. Cryptocurrency gambling has helped promote tourism in the country, but Bitcoin adoption has been a stumbling block so far. While the Bitcoin Law mandates that companies accept the top cryptocurrency, U.Today has found that businesses continue to refuse it.
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