Mexico Also Wants to Follow Neighboring Countries in Crypto-Legislation

When the cryptocurrency industry adoption picked up the pace in 2020, everyone expected it would see a great adoption level from Asia and Europe. This is exactly what happened at first as both continents showed great interest in the adoption of crypto-blockchain technology.

Even now, both regions are considered at the top stop of adopting cryptocurrencies on a larger scale. However, another region has emerged since the beginning of 2021 that is constantly winning the race in terms of crypto-adoption.

Some are stating that it is a very bold move while many are saying it may not end well for the region. The region we are talking about is Latin America, a region that has shown great interest in cryptocurrencies in recent months.

The reports show that almost every country in the particular region is aiming to expand its jurisdictions in terms of cryptocurrencies. They are taking all the necessary steps to ensure they adopt cryptocurrencies without any grey areas and flaws in the near future.

Out of all the countries in Latin America, El Salvador has proven to be the first-ever country not just in Latin America but the entire world how far it is aiming to go in terms of crypto-adoption.

It was on the 9th of June when El Salvador announced the legalization of cryptocurrencies and Bitcoin (BTC) in the country. Cryptocurrencies are now part of legal entities in the country and every platform, every business needs to offer people the option of paying in cryptocurrencies.

After El Salvador, Panama is also planning to do the same, as some of the federal bodies in the country have expressed their desire of walking the same path as El Salvador.

Brazil was already adopting cryptocurrencies gradually and has several cryptocurrency exchanges operating within its jurisdictions. Then there is Cuba, which is also very much interested in Bitcoin (BTC) as it allows them to circumvent traditional bank institutions for remittance purposes.

Another country wanting to follow its neighbors such as El Salvador and Panama is Mexico. The country is as interested in cryptocurrencies as El Salvador.

According to the latest reports, one of Mexico’s federal government’s senators, Eduardo Murat Hinojosa is aiming to get cryptocurrencies adopted in the country. Hinojosa has stated that he will be submitting a request with the lawmakers of Mexico for the legalization of cryptocurrencies.

Hinojosa has also demonstrated his personal interest in cryptocurrencies by changing his Twitter profile picture. He recently changed it to a new one where he is standing delivering a speech into the microphone while the laser is about to come out of his eyes.

Hinojosa has stated that he will be submitting his proposal at the low house of Mexico for the legalization of cryptocurrencies. He is currently working on the legal framework surrounding the adoption of cryptocurrencies. Once he is done with that, he will proceed and submit it at the low house.