Ricardo Salinas predicted “an uphill battle” to the legalization of bitcoin in Mexico
According to the billionaire, this will strike a blow to the regulators’ monopoly over money control
19.04.2022 - 10:00
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What’s new? Mexican billionaire Ricardo Salinas has stated that the process of legalizing digital assets in Mexico will lead to “an uphill battle.” He said this in an interview with Cointelegraph at the Bitcoin 2022 conference in Miami. The entrepreneur’s fortune is estimated at $12,9 billion (according to Forbes).
News on the Cointelegraph website
What arguments did Salinas make? The billionaire believes that the Mexican authorities fear cryptocurrencies because of their freedom and independence. The legalization of bitcoin will provoke strong resistance from regulators, who will not want to give up control over money. Without a battle it will not work to make bitcoin a legal tender, Ricardo Salinas concluded.
In April 2022, the Mexican billionaire called bitcoin the only alternative to the dollar, and in March, during a visit to a geothermal power plant for mining in El Salvador, he called it the currency of freedom.
What had happened before? In February 2022, Indira Kempis, a senator representing the state of Nuevo León, stated that bitcoin should become legal tender in Mexico. She argued that the adoption of bitcoin has the potential to contribute to the global outreach to the population without access to financial services.
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