Mexico confirms plans to roll out CBDCs in 2024

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.

The
plans
for
a
CBDC
follow
the

recent
statement
by
Mexico’s
President

Andrés
Manuel
López
Obrador
that
Mexico
is
unlikely
to
follow
El
Salvador’s
footsteps
and
use
cryptocurrencies
like
Bitcoin
(BTC)
as
legal
currency.



Related:




Bitcoin
transactions
‘akin
to
bartering,’
Bank
of
Mexico
governor
says

At
least
two

lawmakers
in
Mexico

have
suggested
that
the
country
embrace
digital
assets
to
spearhead
the
“shift
to
crypto
and
fintech.”
Ricardo
Salinas
Pliego,
a
billionaire
and
one
of
Mexico’s
wealthiest
men,
has
also
stated
that Banco
Azteca
would
consider
accepting
cryptocurrencies.

In
a
two-minute
festive
video,
the
billionaire
recently called
on
his
957,200
Twitter
followers

to
leave
fiat
money
behind
and
invest
in
BTC,
asking
them
to
retweet
and
share
the
message.

Although
numerous
people
in
the
public
and
business
sectors
advocate
the
use
of
crypto,
authorities
in
the
nation
stated
in
2020
that cartels
were
using
digital
currencies
to
launder
money.

With
the

growing
popularity
of
cryptocurrencies

throughout
the
world,
it
should
come
as
no
surprise
that
governments
worldwide,
including
Mexico,
are
considering
establishing
a
CBDC.
As
reported
by
Cointelegraph,
the
Central
Bank
of
Indonesia
thinks
that
digital
versions
of
national
currencies
could
be
a
valuable
weapon
to combat
the
growing
adoption
of
cryptocurrencies.

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