Mexico says no to the adoption of bitcoin as legal currency

Mexican President Andres Manuel Lopez Obrador has definitely rejected the idea of ​​adopting bitcoin as legal tender, following the example of what El Salvador has recently done. In fact, during a press conference on October 14th, the president officially declared that his administration is trying not to innovate too much in the financial management sector: "We think we must maintain orthodoxy in financial management", said Obrador, arguing that his main goals are to ensure that Mexicans have good salaries and are eradicating tax evasion.

Lopez Obrador then added that, in his view, investing in cryptocurrencies is not necessary to finance the development of the Country. Last June, the Mexican central bank announced that cryptocurrencies are off-limits to financial institutions, disrupting the plans of Mexican billionaire Ricardo Salinas Pliego, who favors bitcoin.

El Salvador, a small tropical nation in Central America became the first country to adopt Bitcoin as legal tender in early September, while recently BitMEX CEO Alexander Höptner said he is convinced that, by 2022, at least five nations will adopt bitcoin as their currency. official legal tender and which will be concentrated mainly in developing countries. Mexico, however, apparently, will not be among these nations.