After China, Now it's Mexico's Turn to Ban Crypto

[Distinctin]

This is bad news for crypto, we would always want a global adoption but with the news that there are some countries who already started to ban crypto, then it would not help to achieve a stable future. Bitcoin will still exist despite bad news but the volatility will remain as there the bigger adoption that we dream will not likely happen due to regulatory hindrance.

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[Wong Gendheng]

After the Chinese government banned the use of cryptocurrencies a few weeks ago, the Mexican government is now banning the use of cryptocurrencies in the financial system.
https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system

Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.

I agree with many opinions here that mexico is a country where the number of crypto transactions is very small, although this is certainly bad news that can make investors panic and immediately sell bitcoins.

[tersek]

This news will not have a significant impact on bitcoin price movements. Because there are not too many miners and crypto users in the country. Especially as long as there are VPNs, people should be free to trade crypto lol

[South Park]

After the Chinese government banned the use of cryptocurrencies a few weeks ago, the Mexican government is now banning the use of cryptocurrencies in the financial system.
https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system

Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.

When we take into account the big picture it does not really matter, Mexico is not really a country that has a lot of miners, users or exchanges but this show us who they are as a government, the fact they are following the same steps as the ones that are being taken at China should be more than enough to tell us the kind of government that is in power, they want to achieve the same thing which is complete control of the economy, but bitcoin will never allow this.

[bots1]

In my opinion, Mexico banning Crypto will not negatively affect the future of crypto. a lot of negative information that was built especially by the rich in mexico who only to manipulate the market for his personal gain. Therefore, it does not have any impact on the prohibition of cryptocurrencies in Mexico, in fact the crypto market continues to experience a Bull Run.

[Slash61]

In my opinion, Mexico banning Crypto will not negatively affect the future of crypto. a lot of negative information that was built especially by the rich in mexico who only to manipulate the market for his personal gain. Therefore, it does not have any impact on the prohibition of cryptocurrencies in Mexico, in fact the crypto market continues to experience a Bull Run.

already seen so far, even moments after this news in the market publication experienced a pump yesterday. there is no big impact from this news.
I even think that in the future, countries that carry out crypto prohibition regulations in their countries may adopt crypto developments in their home markets. it will obviously be later than a country that accepts crypto well. the development of the blockchain and the crypto market will be huge in the future. we are waiting for that moment.

[larus]

Im not sure that Mexico has a lot of hash power for big impact from this decision

[bryant.coleman]

In my opinion, Mexico banning Crypto will not negatively affect the future of crypto. a lot of negative information that was built especially by the rich in mexico who only to manipulate the market for his personal gain. Therefore, it does not have any impact on the prohibition of cryptocurrencies in Mexico, in fact the crypto market continues to experience a Bull Run.

Mexico has not proposed any new regulation to limit the ownership or trading of cryptocurrencies. One of the billionaires organized a press conference a few days back and claimed that his bank will start accepting Bitcoin. The central bank came up with a clarification that the bank mentioned here is not allowed to do so, as it is against the existing banking regulations. It is clear that the government hasn't introduced any new law against cryptocurrency. Obviously for the clickbait driven posters here, they are very talentful to convert such irrelevant stories to catchy titles.

[Quidat]

After the Chinese government banned the use of cryptocurrencies a few weeks ago, the Mexican government is now banning the use of cryptocurrencies in the financial system.
https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system

Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.

When we take into account the big picture it does not really matter, Mexico is not really a country that has a lot of miners, users or exchanges but this show us who they are as a government, the fact they are following the same steps as the ones that are being taken at China should be more than enough to tell us the kind of government that is in power, they want to achieve the same thing which is complete control of the economy, but bitcoin will never allow this.

Bitcoin has nothing to prove out because the ones who do lead out is the community itself.As long the demand is there then bitcoin cant really be stopped no matter what even
if they would continue on banning it from here or there it wont really matter as the demand wont really be stopped and this is the bloodflow on where this economy would
really continue to live out on future years to come.There might be some effects but doesnt mean that it would die out completely.
Bitcoin would stay and no matter how government would do all sorts of things like banning and prohibiting everything but they would still fail.

[akirasendo17]

This is not the first time china ban crypto, and I think there is a conspiracy regarding this lifting and banning cryptocurrency, more often this happens mostly between or after January to June and after those months they will again lift the ban, which is like a cycle for them, china is making money by doing those things, and it affects the whole world, so I'm not surprised by that, for Mexico they maybe thought that it's being used for illegal activities, and other things, but this bans will not last long for sure.