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Mexico lawmakers are planning to take the same lead as neighbouring countries with proposed crypto legislation

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Vandana Mrigwani Follow

INDIA

Jun, 11 2021

Jun, 11 2021

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One senator in Mexico has said that “We are going to lead the shift to crypto and fintech in Mexico”. Mexico lawmakers have a goal to monitor and lead with neighbouring countries with proposed Bitcoin legislation.

 

Eduardo Murat Hinojosa, a senator of the central government of Mexico, has stated he will be submitting a proposal to lawmakers intended at crypto adoption in the country.

 

What Hinojosa is saying?

 

On Twitter, Hinojosa changed his profile image to feature the senator talking into a microphone with the iconic “laser eyes,” representing support for crypto. The lawmaker specified he would be “promoting and proposing a legal framework for crypto coins in Mexico's lower house,” specifically stating Bitcoin (BTC).

 

Hinojosa was not the only Mexico lawmaker representing their support for crypto. Indira Kempis Martinez, a senator on behalf of the state of Nuevo León, has also substituted her profile to show laser eyes, with Hinojosa referring to her as a friend to the cause.

 

The social media movement comes as countries in Latin America have been taking steps towards greater adoption of crypto. In a video announcement to attendees of the Bitcoin 2021 conference last week, El Salvador President Nayib Bukele stated he would send a bill to the country’s legislature challenging that Bitcoin be made legal tender and the legal tender has passed in El Salvador.

 

Paraguayan congressperson Carlitos Rejala implied that crypto would be linked to “an important project to innovate Paraguay in front of the world” opening this week.  He further said that he was working with local crypto facts “in order for Paraguay to become a hub for the crypto investors of the world.”

 

Though Mexico has numerous individual investors who back Bitcoin, authorities in the country reported last year that cartels had been growing their use of crypto to launder funds.  Cyber Investigation Unit of Mexican Attorney General has said that law enforcement in Mexico lacks resources to fight money laundering when crypto is used


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Vandana Mrigwani

CBW - External Analyst

INDIA

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