Private Banks Propose to Help Design Digital Currency in Mexico
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....
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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....
The California Department of Business Oversight (DBO) and the New Mexico Taxation and Revenue Department (TRD) have both issued new releases warning consumers in those states about the potential downsides of investing in digital currency. The California DBO oversees a number of financial service and product providers in California, including banks and credit unions, money transmitters, investment planners and independent escrow agents, among other entities, while the New Mexico's TRD is responsible for collecting governmental revenue. Overall, the releases take a broad look at digital....
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....
“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