Pro-Bitcoin Mexican Senator Proposes CBDC Legislation

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  • Mexican Senator Indira Kempis recently introduced draft legislation amending the country’s Monetary Law to include currencies issued by the central bank.
  • Kempis outlines in repetition that intervention from the Mexican state is necessary to the success of the financial system of Mexico.
  • She also says that state intervention is “native” and “inevitable” for the citizenry of Mexico to possess human rights and for the development of society.

Mexican Senator Indira Kempis Martínez filed a draft decree amending article 22 of the country’s Monetary Law to promote the idea of a central bank digital currency (CBDC), but outright defined it as necessary to human rights.

The original legislation states that in Mexico, legal tender currencies include banknotes issued by the Bank of Mexico and metal coins. Next, it allows the Ministry of Finance and Public Credit the credibility for attempting to replace alloys within the coin-based currencies, and calls for the same Ministry to publish the “Official Journal of the Federation” detailing resolutions related to replacement alloys, should they be used.

The amended legislation reads the exact same, except for two additions. The first adds “virtual assets” to the language of article 22, whereas the second adds a new item to the list with a new type of currency to fall under legal circulation status:



Source link Bitcoin Magazine

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