Mexico Announces It Will Issue Its Own Digital Coin by 2024
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....
Related News
New technologies and a next-generation payment infrastructure would help Mexico become more financially inclusive. Mexico has announced that it would introduce a new national central bank digital currency (CBDC) in 2024, according to a tweet posted on Thursday. The tweet by an account representing the Mexican presidency highlighted that "new technologies and next-generation payment infrastructure" will help Mexico become more financially inclusive.El @Banxico informa que hacia 2024 tendrá una moneda digital propia en circulación, por considerar de suma importancia estas nuevas tecnologías....
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....
“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 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.....