Will Mexico be next to adopt Bitcoin is the big question of the day. Mexican lawmakers are moving forward with presenting to other lawmakers the idea of Bitcoin adoption. After El Salvador took the lead and make Bitcoin its legal tender, Mexico and other countries in Central America & South America are coming forward with positive law proposals for the same.
Federal government of mexico
A senator from the federal government of Mexico, Eduardo Murat Hinojosa, mentioned on Twitter that he will be submitting a proposal to Mexican lawmakers aiming at crypto and Bitcoin adoption in Mexico. Hinojosa also that same day changed his Twitter profile picture to have laser eyes. You ask, “What does that mean?” Laser eyes on Twitter mean you are bullish on Bitcoin. Senator Hinojosa also stated that he would be putting together a legal framework for crypto coins in Mexico’s lower house, with Bitcoin being specifically mentioned.
Some are saying, though, that Bitcoin could be aiding the Mexican drug cartels. It could, of course. Cryptocurrency transactions are very trackable and non-erasable on the blockchain. So the crypto blockchain could actuallly help the Mexican government and police find the cartels as well.
Economically Oppressed Nations Win With Bitcoin
Many economically oppressed nations are suffering, especially when a nation-state slaps on an arbitrary sanction against them. Bitcoin solves this problem. Bitcoin is decentralized, and not connected to any central banking system. Because Bitcoin operates outside of ‘their system’, then any sanctions from a specific nation against another would not economically effect it.
We are also seeing this with Iran right now. Iran has sanctions against it from the United States. Iran’s economy is not good. So Iran solves its economic problems from these sanctions. How, by allowing Bitcoin mining to be done in their country. If the lawmakers of Mexico start to follow other leaders from around the world, Mexico too can be economically independent. People of Mexico receive money from their relatives from the United States. But many banks and wire transfer companies are making huge amounts of profits from these money wires. Bitcoin keeps all of the banks and wire companies out of the mix. And thus, the person receiving the money receives all of the funds intended to be sent to them.
Could Bitcoin Solve Mexico’s immigration problem?
If residents of Mexico can improve economically due to Bitcoin, residents of Mexico might want to stay in their homeland. I’m assuming most people to come to the United States from Mexico are only doing so due to poor economic situations in their origin country. If the residents of Mexico can improve their economic lives by using Bitcoin, they could stay in their own country, not come to America, and enjoy their life right where they were born. In fact, some illegal immigrants living in the United States might actually move back to Mexico to take advantage of the Bitcoin laws in Mexico. Truly depends how the United States eventually handles and views Bitcoin in the USA.
So will Mexico be next to adopt Bitcoin? We are really hoping and praying. This could be so good for this country to the south of us. As more and more countries come out in a positive light about Bitcoin and cryptocurrencies, this could change the whole world, in a positive manner.