Mexico Senate gets Bitcoin ATM
Senator Indira Kempis believes the move could pave the path to declaring Bitcoin as legal tender in the country
By Shashank Bhardwaj
Mexico's 14th Bitcoin ATM was installed at the Senate Building on Tuesday, April 26, marking the latest stride in the country's growing interest in cryptocurrencies. The 13 other machines can be found in Mexico City, Tijuana, Cancn, Guadalajara, Culiacán, San Miguel de Cozumel, and Aguascalientes.
There has been a major surge in interest in cryptocurrencies in Mexico in recent months. A local news report from El Heraldo de Mexico reported that once the BTC ATM was installed, a PRD spokesman stated that Bitcoin had already surpassed the transaction volume of mainstream payment methods such as PayPal, Visa, and MasterCard. According to Triple A's 2021 crypto ownership data, 40% of Mexican enterprises are interested in using blockchain and cryptocurrencies in some way. 71% of this group is focused on cryptocurrency usage.
Indira Kempis, a senator and ardent crypto enthusiast, expressed her excitement at the event on Twitter, writing, "for freedom, inclusion, and financial education in Mexico." Senator Kempis is working with ChainBytes, a company that makes enterprise Bitcoin ATMs, to get Mexico's lawmakers on board.
For most of these legislators, this will be their first time dealing with Bitcoin transactions. Senator Kempis hopes that by installing an ATM, legislators would be able to get more familiar with Bitcoin transactions and become enlightened on the benefits that widespread crypto adoption could bring to their country.
The installation of the Bitcoin ATM in the Senate building, according to ChainBytes CEO Eric Grill, is a certainly watershed moment for the country. "We are thrilled to be a part of such a historical moment for Mexico. We are excited and honored to be here and we are doing our best to help these lawmakers understand the advantages of Bitcoin," he said.
The Bitcoin ATM will continue to operate in the Senate building for the foreseeable future, allowing members to familiarise themselves with Bitcoin ahead of Senator Kempis' proposal to declare Bitcoin legal tender in Mexico.
The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash
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Jack Dorsey's first tweet NFT resells for only $280Read More..
Opera crypto browser now available on iOSRead More..
Beanstalk Stablecoin protocol loses $182 million in governance exploitRead More..
Jack Dorsey vs. Vladimir Tenev on Bitcoin transaction feesRead More..
Ripple claims 'a very big win' in SEC caseRead More..
Argentinian town to invest in crypto mining to fight inflation, upgrade rail infraRead More..
Pantera Capital closing fundraise for its blockchain fund after raising $1.3 billionRead More..
Homegrown blockchain co Polygon commits to go carbon neutral this yearRead More..
NBA registers four NFT trademarksRead More..
US crypto expert jailed 63 months for helping North KoreaRead More..
Fortnite developer Epic Games raises $2 billion to build for the metaverseRead More..
Indian companies storm the metaverse and NFT spaceRead More..
Coinbase is producing a movie trilogy on Bored Ape NFTsRead More..
Multiple Indian Twitter accounts hacked, NFT content postedRead More..
German police shut down $1.3 billion illegal darknet firmRead More..
Meta tests sale of virtual goods in metaverseRead More..
Bitcoin 2022 Conference: Bitcoin Maximalists attack national currenciesRead More..
Binance Gets In-Principle Approval to Operate as Crypto Broker in Abu DhabiRead More..
EU limits Russians' crypto investments to 10k EurosRead More..
Coinbase suspends UPI payments in India three days after launchRead More..
From KFC to Tesla, Dell: Crypto-curious corporations struggle to find right recipeRead More..
In Texas, crypto miners turn to solar powerRead More..
South Africa concludes technical Proof-of-Concept for its CBDC settlement systemRead More..
Terra buys $200 million in AVAX for reservesRead More..
Bitcoin will remain as a standard: Chess world champion Garry KasparovRead More..
Coinbase launches in IndiaRead More..
Meta working on virtual money 'Zuck Bucks': reportRead More..
Germany closes Russian darknet marketplace HydraRead More..
Britain paves way to accept stablecoinRead More..
Crypto industry reels from $600 million hackRead More..
NFT of Nelson Mandela's arrest warrant auctioned for $130,000Read More..
Bank of England calls for tighter regulation of cryptocurrenciesRead More..
ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctionsRead More..
Crypto provides fix for some in crisis-hit AfghanistanRead More..
Bitcoin to the rescue: Cryptocurrencies' role in UkraineRead More..
Digital art in spotlight as Dubai makes crypto hub bidRead More..
G7 looks to thwart cryptoassets use as Russian sanctions dodgeRead More..
Can cryptocurrencies give Russia, others breather from economic sanctions?Read More..
Cryptocurrencies enter Russia-Ukraine conflictRead More..
Russia seeks to regulate cryptocurrenciesRead More..
Donald Trump's NFT collection to laud his own presidencyRead More..