Bitcoin ATM Installed in Mexican Senate Building

AnalysisBitcoin ATM Installed in Mexican Senate Building



Alex Dovbnya

A Mexican senator has helped to install a Bitcoin ATM in the Senate building in a bid to make the largest cryptocurrency legal tender

The Mexican Senate building now has its first Bitcoin ATM, which has been deployed by ChainBytes in partnership with Axolotl Bitcoin, according to a Wednesday press release.

The installation is supposed to bolster Mexican Senator Indira Kempis’s initiative to make Bitcoin an official currency in Mexico.

Kempis, an ardent cryptocurrency proponent, believes that Bitcoin brings financial freedom and inclusion. She hopes that lawmakers will be able to familiarize themselves with the largest cryptocurrency.

ChainBytes CEO Eric Grill claims that the installation of the first Bitcoin ATM in the Senate building is a historic moment for the country.

Her effort to make Bitcoin legal tender is unlikely to succeed. As reported by U.Today, Mexican President Andres Manuel Lopez Obrador definitely ruled out adopting Bitcoin as a means of payment.  

While millions of people don’t have access to the banking system in Mexico, adopting Bitcoin as another legal currency alongside the Mexican peso might end up being too disruptive for the country’s financial system.           

Earlier today, the Central African Republic officially announced that it had adopted Bitcoin as legal tender, becoming only the second country in the world to do so.

El Salvador, an impoverished country in Central America, adopted Bitcoin as legal tender last September. While its cryptocurrency gamble attracted international attention and helped to significantly boost tourism in the country, Bitcoin adoption has so far failed to take off. As reported by U.Today, businesses keep rejecting the top cryptocurrency despite the provision in the Bitcoin Law that requires them to accept it.
 



Learn more

Latest news

US home price inflation slows further in November

US single-family home price growth cooled further in November, surveys showed on Tuesday, which together with declining mortgage rates could...

Toyota to Experiment With Blockchain Use Cases by Sponsoring Astar Network's Hackathon

The auto giant may use technology developed from the hackathon for its internal use. Learn more

AMD’s Profit Plunges Amid Weaker PC Sales

AMD’s Profit Plunges Amid Weaker PC Sales Learn more

Readying Retail For The Next 30 Years

Stephan Schambach is the Founder and CEO of NewStore, a turnkey omnichannel store solution. The events of the...

Barry Silbert’s Grayscale Slapped with Lawsuit by Rival

Alex Dovbnya Grayscale has been accused of misrepresenting chances of getting favorable decision from SEC Digital asset manager Osprey Funds...

McDonald’s Q4 boosted by higher menu prices amid inflation alarms

McDonald’s on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned...

Must read

US home price inflation slows further in November

US single-family home price growth cooled further in November, surveys...

Toyota to Experiment With Blockchain Use Cases by Sponsoring Astar Network's Hackathon

The auto giant may use technology developed from...

AMD’s Profit Plunges Amid Weaker PC Sales

AMD’s Profit Plunges Amid Weaker PC Sales Learn more

You might also likeRELATED
Recommended to you