Mexico is the next El Salvador?

[Hypnosis00]

The senator showed confidence but until there is a law that passed declaring bitcoin as a legal tender, her words are just opinions. The USA and its DEA will not be happy of this and they will influence the Mexican government to stop this. Mexico is the home of powerful and notorious drug cartels that are supplying drugs in many parts of the world. Money laundering is rampant in Mexico. Billions of US dollars laundered every year in Mexico. If this will push thru, the authorities will impose stiff regulations to counter money laundering.

I'm not sure if that will be the reason to stop Mexico from adopting and legalizing Bitcoin in their country. I suppose to think that Mexico can make its own decision regarding this, not with the influence of the USA or other parties. It was the legal move and obligation to decide if this is right or if it will create debates. Might this money laundering is a big factor but before crypto, this illegal activities are already rampant in their place which is not the reason to decline Bitcoin into adoption.

[ultrloa]

The senator showed confidence but until there is a law that passed declaring bitcoin as a legal tender, her words are just opinions. The USA and its DEA will not be happy of this and they will influence the Mexican government to stop this. Mexico is the home of powerful and notorious drug cartels that are supplying drugs in many parts of the world. Money laundering is rampant in Mexico. Billions of US dollars laundered every year in Mexico. If this will push thru, the authorities will impose stiff regulations to counter money laundering.

I'm not sure if that will be the reason to stop Mexico from adopting and legalizing Bitcoin in their country. I suppose to think that Mexico can make its own decision regarding this, not with the influence of the USA or other parties. It was the legal move and obligation to decide if this is right or if it will create debates. Might this money laundering is a big factor but before crypto, this illegal activities are already rampant in their place which is not the reason to decline Bitcoin into adoption.

USA have huge influence so it has a possibilities to stop if US government will interfer the supposed to be law to make bitcoin a legal tender to their country. But hopefully we cannot see this happening and they let Mexico what they want to do since if they successfully acquired this law and Bitcoin circulate to their country for sure this will create another huge demand which can help strengthen the belief of people who doubt it especially when there's a crisis happening.

[Wiwo]

The senator showed confidence but until there is a law that passed declaring bitcoin as a legal tender, her words are just opinions. The USA and its DEA will not be happy of this and they will influence the Mexican government to stop this. Mexico is the home of powerful and notorious drug cartels that are supplying drugs in many parts of the world. Money laundering is rampant in Mexico. Billions of US dollars laundered every year in Mexico. If this will push thru, the authorities will impose stiff regulations to counter money laundering.

I'm not sure if that will be the reason to stop Mexico from adopting and legalizing Bitcoin in their country. I suppose to think that Mexico can make its own decision regarding this, not with the influence of the USA or other parties. It was the legal move and obligation to decide if this is right or if it will create debates. Might this money laundering is a big factor but before crypto, this illegal activities are already rampant in their place which is not the reason to decline Bitcoin into adoption.

USA have huge influence so it has a possibilities to stop if US government will interfer the supposed to be law to make bitcoin a legal tender to their country. But hopefully we cannot see this happening and they let Mexico what they want to do since if they successfully acquired this law and Bitcoin circulate to their country for sure this will create another huge demand which can help strengthen the belief of people who doubt it, especially when there's a crisis happening.

The narration is changing and Mexico which is always seen as a corrupt country with a high rate of drug dealing can have a different view when it comes to decentralized currencies, if the Mexican parliament members should make Bitcoin law and pass it as a policy, to accept Bitcoin as an alternative legal currency that will give way for more economic improvement and if the other features of the blockchain are being critically analyzed and utilize, blockchain can also serve as a technology that could help limit the operations of money laundering and other social crimes within Mexico. And also I don't believe the US will have any influence on that and the situation of Mexico if Bitcoin is adopted will be like El Salvador stands up to other countries and institutions such as the IMF to defend the stance on Bitcoin adoption in the country.

[freedomgo]

What are your thoughts about this?

I doubt they will have the same outcome and they don't have the same situation to start with. Also, they will have to wait a several years to know if their decision to their country will be successful. Also, I think you didn't read the news lately and what had happened to El Salvador because it turns out that their experimentation wasn't that much successful unlike they projected it, but it's still good because they are on the process. What I'm trying to say is that Mexico should observe the happenings first so that they can avoid the unimaginable situation that El Salvador is in right now because rich countries like Singapore and UAE doesn't want to experiment as of this time because they can't afford to waste resources and time.

[Doan9269]

The senator showed confidence but until there is a law that passed declaring bitcoin as a legal tender, her words are just opinions. The USA and its DEA will not be happy of this and they will influence the Mexican government to stop this. Mexico is the home of powerful and notorious drug cartels that are supplying drugs in many parts of the world. Money laundering is rampant in Mexico. Billions of US dollars laundered every year in Mexico. If this will push thru, the authorities will impose stiff regulations to counter money laundering.

We can't use an excuse for money laundering against the proposed adoption in Mexico but i believe the house has the final day when the bill is being presented, there will be vote forbthose in support nor against and by then we will all know if truly the majority are in support for bitcoin adoption and regarding the drugs dealers and so on, don't be surprised that even from the government officials there are those behind it and backing it up with steady funds, they have their boys in the business and i think they will have more supportive hands with the adoption considering privacy, security and decentralization they will benefit from but don't quote me wrong am not saying bitcoin is an abored for such.

[Slow death]

I doubt that the politicians in mexico who are in power will accept to pass this law knowing that in mexico there has been a difficult fight against crime, drug trafficking is one of the great evils that mexico faces and they have a lot of corruption and pass laws on bitcoin could make it easier for crooks to use anonymous cryptocurrencies to commit crimes, laws would not be enough to maintain control that would stop criminals from using cryptocurrencies, places like mexico first need to end corruption and greatly reduce crime and then they can think about passing cryptocurrency laws but for now and as sad as it may be, the government has to focus only on fighting corruption and crimes

The senator showed confidence but until there is a law that passed declaring bitcoin as a legal tender, her words are just opinions. The USA and its DEA will not be happy of this and they will influence the Mexican government to stop this. Mexico is the home of powerful and notorious drug cartels that are supplying drugs in many parts of the world. Money laundering is rampant in Mexico. Billions of US dollars laundered every year in Mexico. If this will push thru, the authorities will impose stiff regulations to counter money laundering.

We can't use an excuse for money laundering against the proposed adoption in Mexico but i believe the house has the final day when the bill is being presented, there will be vote forbthose in support nor against and by then we will all know if truly the majority are in support for bitcoin adoption and regarding the drugs dealers and so on, don't be surprised that even from the government officials there are those behind it and backing it up with steady funds, they have their boys in the business and i think they will have more supportive hands with the adoption considering privacy, security and decentralization they will benefit from but don't quote me wrong am not saying bitcoin is an abored for such.

as I said in my comment, I doubt that such a law will be passed, the situation in mexico is still not good in relation to crime and passing laws on cryptocurrencies is the same as asking criminals to start using anonymous coins and crimes stay still more out of control

[kamvreto]

I doubt that the politicians in mexico who are in power will accept to pass this law knowing that in mexico there has been a difficult fight against crime, drug trafficking is one of the great evils that mexico faces and they have a lot of corruption and pass laws on bitcoin could make it easier for crooks to use anonymous cryptocurrencies to commit crimes, laws would not be enough to maintain control that would stop criminals from using cryptocurrencies, places like mexico first need to end corruption and greatly reduce crime and then they can think about passing cryptocurrency laws but for now and as sad as it may be, the government has to focus only on fighting corruption and crimes

you are right, mexico still has a duty to eradicate drugs because mexico is famous for many drug cases which are still there. How is it possible that Mexico will legalize Cryptocurrency as a legal tender, if the crime of illegal drug transactions is still rampant. this will create a big hole that will make it easier for drug cartels to continue to act and not be tracked, payments will be very easy using crypto. The mexican government will find it difficult to decide what to do, they really should focus on fighting drug crimes etc and then be able to discuss crypto later.

[Getmon]

If the Mexican senate and house make a move for Bitcoin to become a legal tender there will be a rigorous study and discussion about it. Everything will be taken into account including money laundering. If Mexico has a very low money laundering cases, there is no issue. But we are talking of an estimated $25 billion dollars of money laundered yearly according to a report from the United Nations. Bitcoin is not illegal in Mexico but another move for additional regulations are being called in order to deter money laundering. Bitcoin is not anonymous but we do know there are strategies to make it anonymous.

I also crave for more countries to follow the footsteps of El Salvador but Mexico appeared not fit for it until money laundering drops bigtime.   

[yohananaomi]

If the Mexican senate and house make a move for Bitcoin to become a legal tender there will be a rigorous study and discussion about it. Everything will be taken into account including money laundering. If Mexico has a very low money laundering cases, there is no issue. But we are talking of an estimated $25 billion dollars of money laundered yearly according to a report from the United Nations. Bitcoin is not illegal in Mexico but another move for additional regulations are being called in order to deter money laundering. Bitcoin is not anonymous but we do know there are strategies to make it anonymous.

I also crave for more countries to follow the footsteps of El Salvador but Mexico appeared not fit for it until money laundering drops bigtime.  

if indeed mexico wants to be aligned with el savador as a country that makes bitcoin a legal tender. must also immediately improve the situation in the country, so that bitcoin adoption can work well, and not be used as a justification later.
Exactly what you said friend, money laundering in this country seems to have entered all institutions and there must be immediate improvement before bitcoin will be accepted as legal tender.
it is certain that they will continue to be able to improve so that when bitcoin is received it will not actually increase money laundering, which is more uncontrollable. therefore the rules must be made as well as possible in order to overcome the thing that is feared.
hopefully what will be good intentions from mexico can be realized will be the same as el savador and it is not impossible that many will follow this trend.

[worle1bm]

This will be great move to see Mexico following the steps of El Salvador and allign with its goal to adopt bitcoin but it will be really interesting to see what approach they follow like complete adoption like El Salvador or making it official currency also.

But as we are moving ahead in time we see more crypto friendly regulations because they also seek profits from it and know bitcoin can be beneficial for the economy giving it a boost and counter tackle inflation to some extent.So really happy to see Mexico next in the line.

[romero121]

Months back itself there is statement from the members of the government that the government will propose legislation to make bitcoin legal tender in Mexico. Already several exchanges are operating in the country, so the usage within the country is already good. Right now more than 50% of the Mexican population doesn't have bank accounts. With the adoption of bitcoin they believe several forms of inequality can be eradicated. For now there is no official statement of bitcoin adoption as legal tender in Mexico. If it happens, then Mexico is the largest country to make bitcoin legal tender.

[Ziskinberg]

Months back itself there is statement from the members of the government that the government will propose legislation to make bitcoin legal tender in Mexico. Already several exchanges are operating in the country, so the usage within the country is already good. Right now more than 50% of the Mexican population doesn't have bank accounts. With the adoption of bitcoin they believe several forms of inequality can be eradicated. For now there is no official statement of bitcoin adoption as legal tender in Mexico. If it happens, then Mexico is the largest country to make bitcoin legal tender.

But, the worrying part when this becomes legal tender, some countries could see a huge increase in money laundering and other forms of illegal transactions. Not that I was against on this but the government must secure a concrete plan on how to minimize this thing otherwise, this can be a disaster for their security. If we can see, some countries are opposing this one knowing that this could possibly trigger more illegal actions than helping people to educate crypto for good reason.