Bank of Mexico Restricts Banks from Bitcoin Use, Reports Suggest
Following a number of statements by other central banks regarding the dangers of digital currencies, the Bank of Mexico has issued its first statement on the issue. The bank warned the public via a statement on its website about the "the inherent risks of acquiring these assets and using them as substitutes for conventional methods of payment", though most notable were potential restrictions for domestic financial institutions, reports say. Translations of the statements suggest that financial institutions regulated in Mexico "are not authorized to use or carry out any operations with....
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Private banks in Mexico want to join efforts with the central bank of the country in the creation of a new digital currency. The president of the Mexican Bank Association (ABM) met with the governor of the Bank of Mexico to offer the help of the group of private banks for the creation of a national digital currency in the future.
Private Banks Want to Be Involved in Potential CBDC
Members of the Mexican Bank Association have stated their intention of helping the central bank of the country in the design and issuance of a potential central bank digital currency (CBDC). The....
In a press statement released on the 10th of March, Mexico's Central Bank, aptly named the Bank of Mexico, has issued an advisory related to bitcoin, as pointed out by our friends at CoinDesk. Translated copies reveal much of the same warnings the bitcoin community is accustomed to at this point. The advisory begins with a very brief primer on the digital currency, and works its way to note that "The current legal requirements do not recognize them as an official medium of exchange nor as a store of value or any other form of investment." The Bank of Mexico, or Banco De México, warns....
United-States-based Twitter users had been reporting suspicious data access requests from FTX.US to their bank accounts. Plaid is a fintech company that facilitates communication between financial services apps and users’ banks and credit card providers. In FTX.US’ case, its products enable users to allow FTX.US customers to connect their bank accounts to the FTX app. This would then allow FTX.US to request payments that will be processed by the ACH network. In a pinned Tweet on Nov. 12, Plaid announced it has suspended FTX’s access to Plaid products as of approximately 6:30 am UTC on Nov.....
Bitcoin enthusiasts suggest the use of BitcoinCT r: 8 in settling remittances between the U.S and Mexico after Trump’s proposal to build a wall between the two countries will have been realised. On April 5, Billionaire real estate tycoon and Republican front runner Donald Trump unravelled his plans to compel Mexico pay US$5 to US$10 billion for the border wall between the United States and Mexico which Trump aims to build at the start of his presidency. One major issue which Mexico could face upon the creation of Trump’s border wall is a substantial damage to the country’s economy or gross....
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....