The Central Bank of Mexico refused to legal classification in virtual currency bitcoin

The Central Bank of Mexico refused to legal classification in virtual currency bitcoin

Mexico’s central bank governor Augustin? Carstens (AgustinCarstens) refused to adopt a “virtual currency” as the legal classification of bitcoin. Carstens believes that the word “currency” including bitcoin inappropriate classification, because bitcoin without a central bank to support or issue.

In addition, the new Mexico bill may change the fate of bitcoin.

Carstens believes that bitcoin lacks the support of the central authorities, so it cannot be classified as “virtual currency”.

The Central Bank of Mexico refused to “virtual currency” as the legal classification of bitcoin

The governor of Mexico’s central bank argued that encryption currency should belongs to the network security areas of government rather than by the state regulatory agencies as a “virtual currency”. Carstens pointed out that the encryption currency “can not from hackers, and that bitcoin largest utility is” it provides anonymity facts for users”. Prior to this, he warned that bitcoin is an attractive tool for monetary market entity.

Carstens suggested that the Mexico authorities seek carefully to promote the development and application of encryption technology in the currency of the national financial system. Carstens in the Mexico independent research institute (autonomous InstitutoTecnologico) delivered a speech that “the technological development of the financial system is not only the result of innovation”. There must be a free step, will not cause problems — suggests that Mexico’s central bank will seek to actively guide the encryption technology into monetary economy of Mexico ultimately affect the entire social financial system. Carstens also said, “the financial authorities will soon put forward a detailed proposal on crypto currency legislation.

Carstens’s comments suggest that the Central Bank of Mexico will not recognize any non statutory currency as the currency “”

The Central Bank of Mexico refused to “virtual currency” as the legal classification of bitcoin

Carstens’s comments suggest that the Central Bank of Mexico will not recognize any non statutory currency as the currency “”. Carstens will continue to bitcoin described as a “commodity”, he argued, “in the financial system have nothing to ensure its accounting”, which means that the central government is the necessary quality of money “.

Earlier this year, Mexico proposed a bitcoin is defined as digital assets act, and clarify the bitcoin exchange operations. The bill is aimed at Mexico government proposed to help more digital economic transformation, promote the Mexico science and technology financial industry growth, a part of the expansion of ordinary citizens to provide financial services to the new financing bill. Although he refused to bitcoin is classified as “virtual currency”, Mexico regulatory stance on encryption currency is currently in Latin America’s tolerance and freedom.

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