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Mexico warns against using cryptocurrency after tycoon's tweet

Mexico warns against using cryptocurrency after tycoon’s tweet

Salinas Bligo, owner of Banco Azteca

(Bloomberg) – Mexico’s central bank said financial institutions It is not possible to trade or provide services based on cryptocurrencies such as Bitcoin, a day after billionaire Ricardo Salinas Belligo said that Your bank is on the way to accept the virtual token.

Banxico, as the central bank is known, said in a joint statement with the country’s Ministry of Finance and Banking, that conducting and offering operations with crypto assets without permission is a violation of regulations and the company may be subject to regulator sanctions.

“Virtual assets do not constitute legal tender in Mexico nor are they currencies under the current legal framework,” the authorities wrote in a statement on Monday.

The statement follows a tweet from Mexican billionaire Ricardo Salinas Blego, owner of Banco Azteca, who said his bank is working to accept Bitcoin. However, the bank was not directly mentioned in the authorities’ statement.

The statement also reiterates warnings about the dangers of using cryptocurrencies as a medium of exchange, storage of value or as an investment, a position that has long been the position of the country’s financial authorities. To maintain a healthy distance between virtual assets and the financial system, the authorities wrote, Mexican financial institutions are not allowed to offer trading in bitcoin, ether, XRP, and others.

Nota Original: Mexico Warns Against Cryptocurrency After Billionaire Offer عرض

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