Mexican President rejects Bitcoin as currency
Mexican President Confirmed Country Won’t Follow El Salvador’s Footsteps By Adopting Crypto As A Legal Form Of Payment
Mexico is not going to adopt cryptocurrencies as legal tender anytime soon, according to President Andres Manuel Lopez Obrador. Local point of sale Political Expansion reported that at a press conference yesterday, the president dismissed crypto as not financially essential to the country’s development.
President Lopez Obrador has not been one to directly express his opinion on cryptocurrencies, but in his final comments he asserted that Mexico must maintain orthodoxy in its financial positioning.
“We’re not going to change on this aspect. We think we need to maintain orthodoxy in financial management (and) not try to innovate a lot in financial management.”
Unlike the rulers of El Salvador and Venezuela, President Lopez Obrador believes the country does not need to take responsibility for adopting crypto. He observed that instead of making the economy Bitcoin-friendly, the government needed to focus on tightening tax collection measures to prevent the escape.
“The truth is that we have not had a problem in terms of tax collection, and that reassures us a lot”, he said.
The Bank of Mexico and the National Banking and Securities Commission issued a joint statement in June warning potential investors of the risks of investing in virtual assets. Institutions have also warned against using these assets as a medium of exchange. The announcement follows a statement by billionaire Ricardo Salinas Pliego, who said his bank was exploring the possibility of accepting Bitcoin.
“Of course I recommend the use of Bitcoin, and my bank and I are working to be the first bank in Mexico to accept Bitcoin, if you need more details or information follow me on my Twitter account” , Pliego wrote.
In Russia, President Vladimir Putin has taken a less radical stance on crypto. Speaking in an interview moderated by CNBC published On the Kremlin’s website on Thursday, the Russian leader said he saw value in Bitcoin and other cryptocurrencies. He added that crypto assets could one day be used as a unit of settling accounts.
Putin also insisted that despite their value and potential usefulness, he did not believe that cryptocurrencies could be used in the oil trade. When asked if he considers crypto to be an alternative to dollars in oil trading, given that Russia has fallen victim to recent US sanctions, the Russian president hinted that cryptocurrencies were still there. immature. He further pointed out that the huge power requirements associated with crypto could hamper their adoption.