Bitcoin Is Not A Legal Tender : Mexican Finance Minister

Mexico’s prime minister reiterated the existing Bitcoin law which referred to ” Bitcoin is not a legal tender and can’t be treated as Currency”.

As we know Bitcoin will be banned by Mexican government in 2019. When they asked about the operation of Cryptocurrency exchanges with the use of the country’s banking system then after, the government of Mexico recognised bitcoin as an asset and not be treated as currency and also they banned it from being used as legal tender.

Recently On Sunday, Ricardo Salinas Pliego, talked about Bitcoin acceptance by the lenders.

Ricardo said that they are planning to accept Bitcoin and also they have many connections outside Mexico, so they can easily accept Bitcoin.

Ricardo Salinas Pliego is a 133th richest person in the world and now they are getting into the Cryptocurrency business.

After the plan of Richardo, a tweet from mexican Finance Minister showed that they are not tied with the decision of Ricardo Salinas.

And they reiterated the Bitcoin ban in Mexico.

MicroStrategy CEO Michael Saylor tweeted about Bitcoin and Cryptocurrency. And than that tweeted is replied by Pliego and said that

Sure, I recommend the use of #Bitcoin, and me and my bank are working to be the first bank in Mexico to accept #Bitcoin.” Banco Azteca has business operations in several Latin American countries.

So here we can see that even with the ban of bitcoin law existing in Mexico, still Ricard Pliego is ready to talk with the government authorities so that they can bring a new revolution in Mexico with the adoption of bitcoin.

While there can be other facts that are forcing Pliego for this decision. Because they already have full connections with the services which are based on Latin America.

So maybe they will indirectly accept Bitcoin in future.

But here Pliego should keep in mind that if your company/service origin is Mexico then you have to follow the laws of Mexican government directly and also Indirectly.