Mexico: Authorities confirm that bitcoin is not legal tender and banks cannot offer it for public operations العامة

Written by El Financiero (Mexico)

Financial institutions are not allowed to celebrate or offer transactions with cryptocurrencies such as bitcoin or ether to the public, the Bank of Mexico, the Ministry of Finance and the National Commission for Banks and Securities (CNBV) warned on Monday.

In a joint statement, the institutions indicated that this includes deposits or any other form of custody, as well as exchange or transfer.

They pointed out that only financial institutions They may carry out internal operations with virtual assets with prior permission from Banxico. “In addition, they must prevent the transfer of risks of such operations, directly or indirectly, to their customers. Those operations that organizations request to perform with virtual assets and through which they intend to directly provide exchange, transfer or custody of virtual assets will not be eligible for aforementioned authorization.

They commented that those who issue or display said tools will be responsible for violations of regulations this causes, and will be subject to applicable penalties.

Recently, Mexican businessman Ricardo Salinas indicated that Banco Azteca will seek to adopt cryptocurrencies, especially bitcoin, which he has actively promoted on his Twitter account.

He said on the social network: “Definitely, I recommend bitcoin, and my bank and I are working to be the first bank in Mexico to accept bitcoin, if you need more details or information, follow me on my Twitter account.” .

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