Breaking: Mexico’s Legislative Member Set to Propose New Crypto Regulations in Lower House

Published June 8, 2021 | Updated June 8, 2021

In Brief
  • Mexican legislative members set to propose new crypto regulations in the lower house.
  • Mexico joins the growing league of Central and South American nations to hint at progressive Bitcoin adoption.
Source: Mileneo.com

Breaking: Mexico’s Legislative Member Set to Propose New Crypto Regulations in Lower House

  • Mexican legislative members set to propose new crypto regulations in the lower house.
  • Mexico joins the growing league of Central and South American nations to hint at progressive Bitcoin adoption.

The Bitcoin ‘gold rush’ among nations has begun with El Salvador starting it all as the country’s president announced he would be proposing new regulations to induct Bitcoin as a legal tender and soon after Paraguay politician hinted a similar stance on the top cryptocurrency. The latest country to join the growing league of nations announcing new legislation around Bitcoin is Mexico.

Eduardo Murat Hinojosa, a member of the Mexican legislative today announced that he would be proposing a legal framework in the lower house.

This bull season Bitcoin has catapulted to mainstream attention and adoption by institutions, Wall Street hedge funds, and Fortune 500 companies. Now El Salvador has triggered a Bitcoin adoption craze among many South American nations.

The one common thing among these politicians from different Central and South American nations is the ‘Lazer eyes’. Lazer eyes became a popular bitcoin meme earlier this year as the majority of the Bitcoin proponents changed their profile picture to include red laser eyes. As of now, El Salvador is joined by Argentina, Paraguay, and now Mexico.

Bitcoin Price Takes a Slide Over Security FUD

Bitcoin price today reached a new weekly low of $32,200 that was believed to be triggered by the news of the FBI allegedly getting access to Private keys of the Colonial Pipeline ransomware hackers. However, the reports indicate that the Federal agency only managed to get access to a custodial wallet through a court order. The mainstream media somehow connected it to the Bitcoin network’s security leading to the possible FUD.

The on-chain fundamentals are still quite strong with miners continue to hoard more Bitcoin along with the highest exchange outflow registered yesterday with $22.5K BTC leaving the active market.

 

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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Prashant Jha 669 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
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