Mexican Senator Proposed Bitcoin Legal Tender Bill: Report

A Mexican senator proposed a Bitcoin legal tender bill in a bid to join El Salvador and make Bitcoin a legal tender so let’s find out more today in our latest BTC news.

Indira Kempis, a Mexican senator that supports BTC recently proposed a new BTC bill hoping to make the cryptocurrency a legal tender in the country. Kempis is a member of the opposition party so his efforts are not likely to gain traction. Kempis is a senator from Nuevo Leon in Mexico and wants to make her country the second in the world to adopt BTC as a legal tender but the odds are stacked against her.

Inclusión financiera 🚀 pic.twitter.com/t2qNFbHnSC

— Indira Kempis de I. (@IndiraKempis) February 23, 2022

The legislator praised Bitcoin’s characteristics as an inclusive currency that can benefit the unbanked. She said she has been consulting with people that have knowledge in the asset and now she wants to use her political influence and promote the usability of BTC in Mexico:

“We need bitcoin to be a legal tender in Mexico, because if not, if we don’t make that decision as El Salvador did, it will be very difficult to concretize further actions.”

The Mexican senator has been tilting towards BTC for a while now. Following El Salvador’s president Nayib Bukele’s announcement that BTC is adopted as a legal tender in the country, the congresswoman was one of the politicians that put her eyes on their profile pictures to outline the pro-crypto views. Since then, she has been working on a proposal for a crypto-friendly framework.

However, in October, Mexico President Andres Manuel Lopez Obrador stated that his administration is not really interested in adopting BTC as a means of payment much less declaring it as a legal tender. He is focused on enhancing the country’s financial system by fixing the tax evasion issue:

“We think that we must maintain orthodoxy in the management of finances (and) not try to innovate too much in financial management.”

The president’s term ends in 2024 which means Kempi’s initiative will have to wait about two years. If this is not the case, Kempis would still face long odds because she’s a member of the opposition party meaning it would take strong support beyond the senator’s own party in order for the law to move forward.

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• Source: https://www.dcforecasts.com/bitcoin-news/mexican-senator-proposed-bitcoin-legal-tender-bill-report/