Mexico City’s Senate building embraced cryptocurrency with its latest course of action – having a Bitcoin ATM in the Senate Building. Recently, the senator and ardent crypto proponent Indira Kempis expressed her delight at the news on Twitter. Writing that it was “for freedom, inclusivity, and financial literacy in Mexico.”
As an indication of the country’s growing interest in Bitcoin, the Senate building in Mexico City now contains the country’s 14th Bitcoin (BTC) ATM. This is a first for the country. Many MPs supported the ATM installation last Tuesday. This includes Miguel Angel Mancera, the leader of the Party of the Democratic Revolution’s parliamentary group (PRD).
Many countries around the world are slowly opening up to cryptocurrency. Some countries even opt to make some known cryptocurrencies their legal tender. In addition, some countries are thinking of using cryptocurrency as a medium when dealing with the government. Nevertheless, progressively countries are becoming open to the usage of cryptocurrency. Mexico took the step to further the usage of cryptocurrency in their country.
Indira Kempis, a senator, and ardent crypto enthusiast expressed her delight at the move on Twitter. She wrote that it was “good news for freedom, inclusivity, and financial education in Mexico.”
The country already has 13 Bitcoin machines in place, according to Coin ATM Radar data.
They were located in Mexico City, Tijuana, Cancun, Guadalajara, Culiacán, San Miguel de Cozumel, Aguascalientes, and Guadalajara.
According to a local news source from El Heraldo de Mexico, following the installation of the BTC ATM, a PRD spokesperson highlighted the transaction volume of payments made through traditional payment systems such as PayPal, Visa, and MasterCard has already eclipsed Bitcoin’s transaction volume. The Senate of Brazil has approved a “Bitcoin bill” to govern cryptocurrencies, which is related.
In recent months, there has been a significant increase in interest in cryptocurrencies in Mexico. 40 percent of Mexican enterprises are interested in implementing blockchain and cryptocurrencies in some form. This is according to Triple A’s crypto ownership statistics for 2021, which were released this week. The majority of this group (71 percent) is focused on cryptocurrency usage.
Furthermore, the data indicates that the trading volume on Bitso, Mexico’s largest cryptocurrency exchange, increased by 342 percent in 2020. Additionally, the exchange has more than 1 million users (92 percent are Mexicans).
In addition, state senator Indira Kempis of Nuevo León remarked in February about the certainty of Bitcoin as a legal currency in Mexico. This is because its use may aid in the expansion of financial inclusion around the world. To make this happen, according to millionaire and Bitcoin champion Ricardo Salinas, the country’s attitude is too reliant on its fiat control, which he refers to as “fiat fraud.”
In recent times, cryptocurrency is becoming more and more prevalent as years go by. Each county and government are slowly opening up to their usage. Some are even taking action to choose cryptocurrency among others. Thus, only time could really tell if other countries will be more open to utilizing cryptocurrency in the future.