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Mexico bans cryptocurrencies at banks after billionaire promotes Bitcoin

The central bank of Mexico warned national banks that cryptocurrencies are off limits the day after Bitcoin received a plug from one of the country’s most powerful millionaires.

“Financial institutions in this country are not allowed to or are allowed to solicit virtual assets such as Bitcoin,” the Bank of Mexico said in a statement Monday.

“Anyone who issues or provides such goods is liable for violating those rules and is subject to applicable sanctions,” the bank added.

A statement by the Central Bank of Mexico had autonomy from the elected federal government of the country and was widely seen as a rebuke of President Andres Manuel Lopez Obrador’s closest ally in the business world.

The day before, Ricardo Salinas Priego, a billionaire businessman who runs banks, telecommunications and retailers and is politically affiliated with Obrador, approved Bitcoin on social media.

“Bitcoin is a good way to diversify our investment portfolio and I think every investor needs to study cryptocurrencies and their future,” writes Salinas Priego.

Close-up photo of a Mexican 100 peso banknote with golden Bitcoin.
“Financial institutions in this country are not allowed to or are allowed to solicit virtual assets such as Bitcoin,” the Bank of Mexico said in a statement Monday.
Lamy Stock Photo

Banco Azteca β€” A bank owned by Salinas Pliego Obviously Probitcoin El Salvador β€” Billionaire said he was working on ways to make cryptocurrencies available to the general public.

β€œAt Banco Azteca, we are committed to providing them to our customers and continuing to promote their freedom,” he said.

A spokesman for Grupo Salinas, a corporate conglomerate at Salinas Pliego, did not immediately respond to a request for comment on whether a central bank statement would change the company’s plans.

With post wire

Mexico bans cryptocurrencies at banks after billionaire promotes Bitcoin

Source link Mexico bans cryptocurrencies at banks after billionaire promotes Bitcoin

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