Mexico would not follow in El Salvador's footsteps with bitcoin!!

Greetings friends, I hope your week is going better than the cryptocurrency market.

This time I come to share a news that is making the rounds in the most important news sites on the web.

While it is known to all that El Salvador adopted BTC as a cryptocurrency recently, Brazil outlined intentions to replicate such strategy.

But it is not Brazil that I will talk about in this opportunity, but the tricolor country, MEXICO.



Yes, just as you read it, this time it is Mexico's turn to be the protagonist of the main information tabloids, to know the information in detail, let's read a little more.

While the world sees how a country already has bitcoin (BTC) as its legal tender, many nations are not willing to follow in El Salvador's footsteps. One of them seems to be Mexico, according to recent statements by the governor of the Bank of Mexico (Banxico), Alejandro Díaz de León.

According to Díaz de León, bitcoin is not a means of payment nor can it be considered as money. In any case, commercial transactions that use cryptocurrency would be more of a kind of "barter", according to his vision.

The Mexican executive referred to this stance regarding cryptocurrency when asked about the recent entry into force of the Bitcoin Law, which makes BTC legal tender in El Salvador.

Díaz de León assured during the webinar The function of your Central Bank that "bitcoin is circumscribed more as a high volatility and high risk investment strategy and not necessarily as a means of payment."

According to the governor of Banxico, the cryptocurrency does not meet three basic criteria to be money: serve as a means of payment, a means of safeguarding value and having a price reference. In this regard, he referred to the volatile nature of the cryptocurrency market.

Indirectly, Díaz de León ended up comparing bitcoin with gold, a parallel already installed in the bitcoiner environment to refer to the first cryptocurrency on the market and its potential as a safeguard of value: “it is more like a dimension of precious metal , more than to a currency of legal and daily course ».

This stance regarding bitcoin is very common among central banks and financial institutions in the world. And in the case of Mexico we are not faced with an exception. Already last June, the Secretary of Finance and Public Credit, Arturo Herrera Gutiérrez, had referred to the Salvadoran government's measure and announced that the North American country would not follow that line SOURCE.



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