The First Bank In Mexico Is About to Start Accepting Bitcoin

[nikrobi]

It is not that simple. Bankers in general are quite greedy. But this is more like an issue which can affect their very survival. With the announcement from El Salvador (making BTC as legal tender), Bitcoin is now being regarded as a competitor to fiat currency). That makes it a competitor to the banking system as well. I am expecting more hostile action from fiat based economies such as the United States, and from the bankers. The honeymoon period for cryptocurrency seems to be over. It should be ready to face tough challenges now.

I've been observing lately many positions and actions like this. The decentralization is the most effective weapon against the old sytem, which doesn't want to loose the control. From now on countries and more countries will try to bring back this control to them using subterfuges promises that accept the digital coins in their business.

Banks know the impact and the power of this crypto financial backing, which is something never well metabolized by them. They'll fight as never before to re-take the control, but the new age currency is like computing and beyond.

The non touchable (software) and the touchable (hardware) were joined to has no limits, and perhaps no control!

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[carlisle1]

I think this is good news for all crypto lovers of mexico and whole world also. When a bank owner give such kind of announcement we can be hopeful where too many negative news around us like China not accepting crypto recent days. I think Ricardo Salinas Pliego has realize the importance of BTC for future days and hope another bank owners will follow him.

If domino effects take place with this decision, it will surely brings positive impact to this entire industry.

Bitcoin already have supporters and with the addition of more  institutional business it will attract more and more people to also use this system.

Positive news is better today since those negative are dominating especially the news from China's ban.

[romecheo]

This will make another good impact on BTC, and thanks to Ricardo Salinas Pliego, for minding the acceptance of BTC,

Perhaps, he is a man, which we can consider as a visionary, he may see a future which lies on crypto currencies.

Hoping to see more businesses and government are following.

[NotFuzzyWarm]

So just how does the OP posting that

Ricardo Salinas Pliego, the third richest man in Mexico, said that he hopes his bank will become the first bank in Mexico to accept Bitcoin.

equate to saying Ricardo's bank is even considering much less saying they are about to, start accepting Bitcoin?

Ans. It doesn't...

[Silberman]

After the statement that they are eyeing Bitcoin/crypto, Mexico's central bank was quick to counter, telling "The country's financial institutions are not authorized to carry out and offer to the public operations with virtual assets such as Bitcoin" and that those who do will face "applicable sanctions."

All this is a war of words and it's not yet easy to predict what's going to happen next. For now, the central bank seems to have got a small victory, at least by slowing down the adoption there.




Full story: https://www.btctimes.com/news/Mexico-central-bank-blocks-ricardo-salinas-bitcoin-plans

That was quick but at the same time we know that regulators despite their claims against bitcoin eventually are going to relent if enough powerful people want bitcoin to be accepted at their institutions, so it is possible that even if this does not happen now once enough rich people want bitcoin to be accepted the regulators will have no other option but to accept their demands, the question is if they will do so soon enough to be early adopters of bitcoin or they will take so much time that by the time they do it no one will care about it.

[AmoreJaz]

After the statement that they are eyeing Bitcoin/crypto, Mexico's central bank was quick to counter, telling "The country's financial institutions are not authorized to carry out and offer to the public operations with virtual assets such as Bitcoin" and that those who do will face "applicable sanctions."

All this is a war of words and it's not yet easy to predict what's going to happen next. For now, the central bank seems to have got a small victory, at least by slowing down the adoption there.

-

Full story: https://www.btctimes.com/news/Mexico-central-bank-blocks-ricardo-salinas-bitcoin-plans

That was quick but at the same time we know that regulators despite their claims against bitcoin eventually are going to relent if enough powerful people want bitcoin to be accepted at their institutions, so it is possible that even if this does not happen now once enough rich people want bitcoin to be accepted the regulators will have no other option but to accept their demands, the question is if they will do so soon enough to be early adopters of bitcoin or they will take so much time that by the time they do it no one will care about it.

it will take time before Central Banks totally accept the existence of bitcoin and other cryptocurrencies. that's understandable as they don't have full control about its circulation.  however, as some countries are making bitcoin as legal tender and if they see a successful implementation, their people themselves will make a way how their government will accept bitcoin in their market.
we don't need to rush things here because these CBs don't know how to even regulate the usage of crypto yet. when they find a way how to at least manage the use of crypto, they will be open to it and they may even adapt the technology behind it to create their own.

[Wawa2013]

This will make another good impact on BTC, and thanks to Ricardo Salinas Pliego, for minding the acceptance of BTC,

Perhaps, he is a man, which we can consider as a visionary, he may see a future which lies on crypto currencies.

Hoping to see more businesses and government are following.

This is good news that has been awaited, hopefully the effect can push the price of Bitcoin. Ricardo Salinas Pliego is one of the most influential
people in Mexico, hopefully he can influence the Mexican government to be more open to cryptocurrencies. Approaching the end of the year slowly
began to emerge good news regarding Bitcoin, it seems that many people's predictions that Bitcoin will recover soon will come true.

[Vaskiy]

This is true indication of increasing market adoption. In my country the government was completely against the usage and the same caused massive blow of the market in the past. Now things have changed and there is no big restrictions. More and more number of cryptocurrency exchanges are getting developed. More the growth is the key factor to ignite a massive bull trend.

[Kelvinid]

Is this bank regulated by the Mexican state? If so, their goal of crypto adoption will not be possible because the Mexican government does not allow it.
There's no way an individual can go against the government because that's impossible.

https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system

This is what also I've noticed and I don't know where OP had got such information because the ban has already been made before this.
That actually good news but the life of crypto in Mexico isn't smooth, it's off and ON.

Anyway, this is a part of the game maybe later the government will lift the ban. We can't decline such decisions knowing that Mexico has a huge number of criminal activities and if they will legalize Bitcoin that possible it will be abuse and drives to increase money laundering activities in their place.

[Yatsan]

That is really good to hear for such action will be a big implication for the acceptance of Bitcoin in Mexico that will open up the minds of the people into curiousity about thinking what is the relevance of Bitcoin adaption since banks will be starting to accept Bitcoin that many people commonly know banks are not promoting to use it (not sure if that applies into situation with other countries but here in my place that is being applied). Hearing a bank will accept Bitcoin is a good start for the people specially those who are already long enough in crypto to use the opportunity to freely use it now.

[Anonylz]

So just how does the OP posting that

Ricardo Salinas Pliego, the third richest man in Mexico, said that he hopes his bank will become the first bank in Mexico to accept Bitcoin.

equate to saying Ricardo's bank is even considering much less saying they are about to, start accepting Bitcoin?

Ans. It doesn't...

The op only interpret what he wants to hear and not what is written down it seems, can't blame him though,  everyone is always eager to hear the next big news that will happen in btc, let's hope soon banks will start given accepting btc a consideration, it will be such a big news that can make the btc price to surge really high, I hope with his influence his bank will start to put this into consideration.