In these ups and downs of the market, after El Salvador, we are now witnessing the acceptance of Bitcoin by the Mexican government with the aim of increasing the financial literacy of citizens.
These days, the world of digital currencies is going through an ups and downs and mostly downward trend, which has resulted in the disappointment of many novice activists in this field and has removed a large fortune from the bottom of its biggest owners. But these have not caused anyone to question the inherent currency of the world of cryptocurrencies, and even in this situation, some countries are trying to spread awareness about the blockchain and crypto world.
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Acceptance of Bitcoin by the Mexican government
After El Salvador, which officially entered the crypto world last year by accepting Bitcoin, now it seems that another country in the Americas, namely Mexico, is considering things to introduce Bitcoin into its economic cycle. This week, Senator Indira Campes presented a bill to the Mexican parliament that would amend Mexico’s monetary law to allow Bitcoin to play an important role in Mexico’s financial structure.
This bill is very similar to the action of the government of El Salvador, the first country to accept Bitcoin, which in itself shows the increasing acceptance of digital currencies by governments. In the case of Mexico, the purpose of presenting the new bill is to increase the financial literacy of citizens. Countries that accept Bitcoin, such as El Salvador, believe that such measures will increase people’s access to financial facilities, which are very few in most countries.
For example, in Mexico, 56% of the Mexican population still does not have a bank account, and 68% of people lack financial literacy. This issue causes people not to base their financial decisions on the right basis.
Despite all the problems and obstacles that other legal authorities in Mexico and other countries have placed on the way to legalize digital currencies, such bills with the support of private investors can be a solution to overcome the financial problems of these developing countries.
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