As Trump Targets Mexican Remittances, It’s Time for Mexico’s Government to Get Serious about Bitcoin
No country had more to lose from Donald Trump’s presidential victory than Mexico, an economy that heavily relies on remittances from the United States. Mexico received $24 billion in remittances in 2015, the country’s largest source of currency after direct investment. The Mexican government has been bracing for this blow and has taken steps to shore up its finances. The impending fallout should give the Mexican government reason to pay more attention to progressive cryptocurrency regulation, considering Mexicans working in the U.S. will have limited recourse for sending money back to....
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– he failed to demonstrate his understanding of the Internet and contemporary, borderless commerce. If it’s not remittances, immigrants in the US will figure out a way to send their money home if they want to do so. For now, it’s not going to be Bitcoin. But, if Trump does block remittances, you better believe that sooner than later increasing numbers of remitters will look into this blockchain technology. Knowing crypto-currency enthusiasts, they’ll likely troll Trump with Wallcoin. Or “Wall: The Blockchain Solution That Knows No Walls.” There’s already “Trumpcoin.” Trump wants to use a....
New weekly trading volume charts on LocalBitcoins show Mexico has a great appetite for cryptocurrency. The Mexican banking sector is going into some contingency mode right now. If Donald Trump were to win the presidential elections, the banking system in the country would come under a lot of pressure. Financial regulators have ordered all institutions to conduct stress tests modeled after a Trump victory. At the same time, Bitcoin adoption in the country continues its upward trend. Ever since Donald Trump mentioned his plan to block remittances from the US to Mexico if he became president,....
The government of Mexico is preparing for a potential economic fallout if Donald Trump is elected president of the US. According to the Governor of Mexico’s central bank, Agustín Carstens, economic officials are planning a contingency plan in case of an unfavorable US presidential outcome, that is, if Trump wins. This is due to a negative narrative against Mexico pushed by Trump on the campaign trail, and fears that his administration would be harmful to economic relations between the two bordering nations. Over the course of the election season, the Mexican Peso’s exchange rate with the....
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....
If Mexico doesn’t pay for a wall with the US, Donald Trump announced he will try to cease money transmissions to the country. Many have laughed at the concept especially those who bolster the digital currency Bitcoin. One cryptocurrency company, Genesis Mining has announced a billboard campaign that shows the virtual money’s ability to trump the....