Cryptocurrency

The Mexican legislator would like to follow the example of the neighboring countries with the proposed Bitcoin legislation

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Eduardo Murat Hinojosa, a Senator for Mexico’s federal government, said he would make a proposal to lawmakers that appears to be aimed at introducing crypto in the country.

In a tweet today, Hinojosa changed his profile picture to show the senator speaking into a microphone with the iconic “laser eyes”, indicating support for crypto. Lawmakers said it would “promote and propose a legal framework for crypto coins in the Mexican House of Commons”, noting Bitcoin (BTC) in particular.

I will promote a legal framework for cryptocurrencies in Mexico and propose to the Chamber of Deputies #btc

I will promote and propose a legal framework for crypto coins in the Mexican House of Commons #btc pic.twitter.com/zwhYOZ7KAg

– Eduardo Murat Hinojosa (@eduardomurat) June 8, 2021

Hinojosa wasn’t the only Mexican lawmaker to announce its support for crypto. Indira Kempis Martinez, a Nuevo León state senator, has also changed her profile to show laser eyes, with Hinojosa calling her a friend of the cause.

“We will lead the move to crypto and fintech in Mexico,” said Hinojosa.

The social media activity is coming as countries in Latin America appear to have taken steps towards greater adoption of crypto. In a video announcement to attendees at the Bitcoin 2021 conference last week, El Salvador’s President Nayib Bukele said he would send a bill to the country’s lawmakers requiring Bitcoin to be legal tender.

On Sunday, Paraguayan Congressman Carlitos Rejala hinted that starting this week, crypto would be linked to “an important project to innovate Paraguay in front of the world”. Yesterday he added that he was working with local crypto figures “to make Paraguay a hub for the world’s crypto investors.”

A Paraguayan politician (@carlitosrejala) posted a laser eye photo and promised a bitcoin announcement this week.

Just as we’ve seen MicroStrategy create the knock-on effect for publicly traded companies, El Salvador is likely to be a catalyst for other countries.

(h / t @WClementeIII) https://t.co/V5bxdbeRWq

– Pomp (@APompliano) June 7, 2021

Although Mexico has many individual investors backing Bitcoin, the country’s authorities reported last year that cartels had stepped up their use of crypto for money laundering. At the time, the head of Mexico’s Attorney General’s Cyber ​​Investigations Unit said the country’s law enforcement agencies lacked the resources to fight money laundering when crypto was involved.

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Melinda Martin