According To Senator, Mexico Is Considering Making Bitcoin Legal Tender.

On Thursday, Samson Mow, a former CSO at Blockstream, detailed the ambitions of three separate global jurisdictions to adopt Bitcoin. Mexico is one among them, and the country’s president has invited Mow to meet with him to consider the idea.

Mow highlighted how, after leaving Blockstream, he’s spent the last month working on “Bitcoin nation-state adoption” on stage at the Bitcoin 2022 conference. He’s also founded “Jan 3,” a Bitcoin technology firm named after the date Bitcoin’s genesis block was created.

The programmer’s presence has expanded to areas like Prospera, a privately controlled growing city on the Honduran island of Roatán. The city’s president, Joel Bomgar, confirmed that Bitcoin is accepted as legal tender in Prospera.

“That means no capital gains tax on Bitcoin, you can transact freely using Bitcoin, and you can pay taxes and fees to the jurisdiction in Bitcoin,”

Prospera will also allow other towns in Honduras, as well as businesses based outside the United States, to issue Bitcoin bonds from inside its authority. These will work in a similar fashion to El Salvador’s Bitcoin bonds, which were also developed in partnership with Samson Mow.

Second, the Portuguese autonomous unit of Madeira intends to “adopt” the cryptocurrency. Following up on Bomgar’s remarks, Madeira President Miguel Albuquerque informed the crowd that he believes in the future, as well as Bitcoin.

Albuquerque did not mention making Bitcoin legal tender, but he did say that Bitcoiners in his territory do not have to pay taxes when purchasing or selling the asset. He also claimed that he will continue to strive toward establishing a “fantastic Bitcoin environment.”

Finally, Senator Indira Kempis chimed in with an update on Mexico‘s ambitions to accept Bitcoin. Last month, Kempis stated that she intended to make cryptocurrencies legal tender in Mexico, which is second only to El Salvador.

Though the possibilities were small at the time, what she disclosed today makes such a move appear lot more likely. She stated the President had sent a message to Mow and that he’d like to meet with the Bitcoiner to discuss making Bitcoin legal tender throughout Mexico.

The senator has been working on proposals that would make financial inclusion and education a fundamental right for Mexicans. She’s also been working to change regulations related to fintech and monetary law, which Mow refers to as “Bitcoin law.”

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Patrick

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