Mexican Senator Proposes Bitcoin To Be a Legal Tender Citing El Salvador
- Mexican Senator Indira Kempis announced that she would soon be proposing a crypto law
- She cited the success and global recognition of El Salvador as why crypto must become a legal tender in Mexico
- Kempis also stated that work is being done to make financial education and inclusion a fundamental right
She is preparing to make them a legal tender and make sure that they reach each and everyone in the country.
Bitcoin – Coming Soon to Mexico
After a visit to El Salvador and being impressed by the impact of Bitcoin, Kempis is preparing to propose a crypto law to Congress this year which is going to be designed according to El Salvador’s approved proposal.
The senator stated that the presence of ‘knowledgeable’ entrepreneurs, technologists, and friends who worked with Bitcoin for years always drove her towards being a part of the space, which she now seeks to promote as well.
However, the biggest push came from the changes she witnessed in the case of El Salvador and how it is now turning into an important hub for Bitcoin in the world. She said:
“Every time El Salvador was discussed, it was always to address issues of migration, violence, and organized crime, and now the world’s gaze is not on those public problems, but because of this great call at a global level with bitcoin. (sic)”
However, within the country, she primarily wants to ensure that financial inclusion and education are turned into a fundamental right for every citizen and work for the same.
On the concern of Bitcoin being a legal tender, Kempis stated:
“Making bitcoin a legal tender means putting a level playing field for people who are excluded in almost all countries…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.”
Bitcoin – Also Coming to the US
Like Kempis, some politicians in the United States have been pushing to accept Bitcoin in their states.
Last week, governor of Colorado Jared Polis declared that the state would begin accepting crypto for tax payments starting this summer.
Similarly, State Senator of California Sydney Kamlager also proposed accepting cryptocurrency as a means of payment for the provisions of government services.
It seems like the crypto adoption fever is hitting far and wide, with government institutions accepting it.
And this might also be a good time to do so since just yesterday, the crypto market seemed to have begun recovering.
The king coin Bitcoin itself has shot up by 5.15% in 24 hours to trade at $38,903 at press time.
This will help BTC push further towards its critical resistance of $40k, which, when flipped into support, would act as a crucial jumping point for a future rally.