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Mexican Lawmakers Set to Propose New Bitcoin-Friendly Regulations

cryptoknowmics.com 10 June 2021 10:30, UTC
Reading time: ~2 m

Mexican lawmakers are following the example of their neighboring country, El Salvador as he takes to introducing new Bitcoin-friendly regulation in the country. Eduardo Murat Hinojosa, a member of the Mexican legislative has announced the submission of a proposal in the lower house aimed at crypto adoption in the country.

Earlier this week, El Salvador accepted Bitcoin as a legal tender status making it the first country in the world to make such a move.

Mexican Lawmakers Express Support for Bitcoin

In a tweet on June 8, a Senator of the Federal government of Mexico, Eduardo Murat Hinojosa expressed his support for Bitcoin by changing his profile picture with the iconic laser eyes, saying said he would be “promoting and proposing a legal framework for crypto coins in Mexico’s lower house,” while mentioning BTC in his tweet.

“We are going to lead the shift to crypto and fintech in Mexico” he adds.

Hinojosa was not the only Mexico lawmaker that expressed support towards crypto. Indira Kempis Martínez, a Senator representing the state of Nuevo León, also switched her profile and added the laser eyes.

https://t.co/h5iJ24TmNw pic.twitter.com/pBKVLDp7E9

— Indira Kempis de I. (@IndiraKempis) June 8, 2021

Lazer eyes became a popular Bitcoin meme earlier this year to symbolize the growing power of Bitcoin while express support towards it.

India Could Accept Bitcoin as an Asset Class

Following the legion of nations accepting Bitcoin, the Indian government is soon classifying the digital asset as an asset class, according to a local media report.

The country’s financial market regulator, the Securities and Exchange Board of India (SEBI) will reportedly oversee crypto regulation following Bitcoin’s classification as an asset class.

Earlier this week, Nandan Nikelani, the Co-Founder of Indian IT multinational company Infosys backed the use of crypto as an investment asset class similar to gold or real estate, saying:

“Just like you have some of your assets in gold or real estate, you can have some of your assets in crypto…I think there’s a role for crypto as a stored value but certainly not in a transactional sense”

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