Mexican Premier Ousts Idea of Having Developed Any Interest in Adopting Bitcoin

Andres Manuel Lopez Obrador, Mexican President, has simply ousted the idea of having developed even a tiny bit of interest in adopting Bitcoin under any so-called “legal tender” to work side by side with the national currency. Even the print media of the country also suggested the same thing which claimed that Mexico will continue to stick to and rely upon the traditional ways instead of adopting something which lacks rigorous testing.

The Mexican President was seen actively discussing Bitcoin during the past week and this week as well.

An official press release was also issued from the Mexican premier, Andres Manuel Lopez Obrador. In this press release, the President straightforwardly disclosed the fact that neither he nor the Government is interest in Bitcoin. He clarified his stance over the issue of adopting of Bitcoin by suggesting that Mexico simply doesn’t want it.

Lopez Obrador explained that since El Salvador has inducted Bitcoin, there is a talk that every state should think about it. However, he denied that there is such a case. Each state is a sovereign state and normally decides on its own what particular system it has to adopt or not. No one else is allowed to interfere in the workings of the state and its functionaries. He said that there isn’t even tiny bit of interest developed towards adopting of Bitcoin under any so-called “legal tender”.

He was even questioned by a local journalist about his statement about non-induction of Bitcoin under the “legal tender”. He responded to the journalist that Mexico would never change its present system until there are reasonable grounds. The financial system of the country is going perfectly well and there is no need to seek any unorthodox systems for management of finances. El Salvador may be having its own reasons for installing a system based on Bitcoins but for sure Mexico hasn’t any. He emphasized that the present financial system is comprehensive and, above all, it is tested and reliable. But Bitcoin’s usage as national currency is still in early days and therefore cannot be relied upon until it undergoes rigorous testing.

The official statement reiterates Mexico’s as well as of its executives positions on the issue of Bitcoin. It hasn’t been changed at all and instead the executive was of the view that they need to tighten tax collection process. He said that systems like Bitcoin make their way into an economy when the economy fails. The failure of economy is directly linked with the tax collection and in case there are tax evasions then economies are destroyed.

He suggested that Mexico will continue to make sure that nobody is allowed to avoid tax.

Even the print media of Mexico also endorsed the point of view of the Mexican President. The media noted that for the time being Bitcoin cannot fit in the Mexican financial system.