With blockchain development becoming more prevalent in South America, Mexico has issued a statement that the country will have its own central bank digital currency (CBDC). The news came out after a Twitter post by the Government of Mexico. The tweet suggested that the Central Bank of Mexico will develop a digital asset that will bring financial opportunities with “next-generation technologies’. While, previously, the President of Mexico wasn’t fond of using Bitcoin as an official currency due to the current influx of money laundered through digital assets, the Government of Mexico seems to be aiming towards crypto in hopes of bringing options for financial inclusion.
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Even the founder of Banco Aztecas, and third richest person in Mexico, Ricardo Salinas Pliego suggested that his bank would support the usage of digital assets on Twitter, stating:
“I recommend the use of Bitcoin, and me and my bank are working to be the first bank in Mexico to accept Bitcoin…”
Even though there is an issue with money laundering via cryptocurrencies in Mexico, the government seems quite positive about bringing in CBDCs, which may indicate an attempt to devalue major cryptocurrencies and altcoins. by Dom Z. – Crypto Analyst, BitDegree