There Is No Bitcoin Ban In Mexico
A recent article from the media site El Universal has incorrectly espoused that Bitcoin is now banned in Mexico per a recent decision by the Mexican Tax Administration Services (SAT). The Mexican SAT, the equivalent of the United States IRS, has not banned Bitcoin. Instead, it has merely clarified that the existing bans on large transactions using cash (heinous in and of themselves), also apply to Bitcoin. Influential blogger Victor Hernández wrote a post to counter the El Universal piece and clarify that Bitcoin is not banned in Mexico. Bitcoin is still allowed for online transactions;....
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Mexico has seen modest Bitcoin market penetration so far but has also avoided any condemnation or over-regulation by government. Bitcoin is seen as a digital asset and is not illegal to use in Mexico. 7-Eleven stores have taken Bitcoin under agreement and merchants are starting to hear about Bitcoin and accept it in larger metropolitan areas. This has created fertile ground for growth and innovation, and the newest application in Mexico may be the best and most useful. Called Volabit, it brings debit card convenience to smartphones in Mexico, making Bitcoin as easy to use as a peso.....
“Cryptocurrency will have a huge impact on Latin America. The most obvious impact for Mexico is the lower of costs to send money to and from the United States which is one of the most powerful remittance corridors in the world.Bitcoin is just the beginning of new opportunities in the digital currency realm.” – Jesse Heaslip, BEX CEO The above quote pretty much sums up why Mexico especially is in such need of cryptocurrency integration. This is where CoinBatch comes in, a company that allows you to exchange Bitcoins, and is planning on having their own ATM network as well. To start we are....
Mexico-based airlines TAR Aerolineas has become the first in Latin America to accept bitcoin payments. The airliner will accept payments in the digital currency following a partnership between Openpay - a Mexico-based payment service provider - and payment processor BitPay. In a statement, Jose Calzadias, commercial manager at TAR, said that the company, which serves 12 destinations throughout Mexico, would continue to evaluate payment options that give
Cinco de Mayo 1862 - Mexico's army came to an unlikely victory over the French at the Battle of Pueblo. Today, Mexico's army of Bitcoiners are fighting to revolutionize the financial system. Mexico is a key market for Bitcoin because Mexico is the fourth largest destination for remittance payments, totaling about 22 billion USD in 2013 according to the World Bank. Currently remittance payments are packed with fees in all parts of the process; using Bitcoin can drastically reduce these fees. Remittance payment fees from the US to Mexico are some of the lowest in the world. Fees of payments....
The government of Mexico announced that the country’s central bank will issue its own digital currency. The statement of the official account of the presidency of Mexico informed that the development should be ready towards 2024, and remarked about the importance the technology has for the future of the financial structure of the country.
Banxico to Issue Digital Peso
A statement issued by the official account of the presidency of Mexico on Twitter reported that the institution was planning to issue its own digital currency. The announcement also informed that this....