Mexican authorities have made another attempt to integrate crypto across the country. On April 26th, the Mexican senate got a BTC ATM of their own—the country has previously installed 13 ATMs in 7 different cities.

Indira Kempis, a Mexican senator and huge proponent of cryptocurrency, spoke happily to the public, lauding the decision as a smart move towards “financial freedom, inclusion and education in Mexico”. A series of forums was held by the Senate to discuss the necessity of a legal framework for crypto. This is especially important considering the fact that Bitcoin transactions now surpass popular payment systems such as PayPal (NASDAQ:).

Por la libertad, inclusión y educación financiera en México.#ToTheMoon @senadomexicano pic.twitter.com/QytQn58A3i

— Indira Kempis de I. (@IndiraKempis April 26, 2022

Searching for a Modern Alternative

Ricardo Monreal, the president of the Mexican Senate’s Political Coordination Board, claimed that at least 67 million Mexicans are unable to access banking services. He pointed out that Argentina, Panama, Chile, Chile, and Brazil have all started pushing legislations related to cryptocurrency. The timing of these bills is crucial as more than 60 million transactions have already been made using more than 100,000,000 accounts.

Mexico has recently passed new regulations regarding Bitcoin. These laws may be of benefit to anyone who is unable access traditional banking. It could also help Mexico boost its confidence in international financial competition. This comes as the US, which borders Mexico, is currently working on creating its digital currency. There are now nearly 37,000 Bitcoin ATMs around the world, 686 of which were built just in March.

Continue reading on DailyCoin