Mexican senator for the state of Nuevo León, Indira Kempis, questioned the fact that her country is no longer involved with the financial innovation that has triggered Bitcoin (BTC) and cryptocurrencies. For the specialist in public administration, it is time for the debate on digital assets and blockchains to reach the legislative branch and even the national executive branch.
According to Kempis, discussions about the impact of crypto assets in Mexico should raise the stage for debate and involve the president of Mexico himself, Andrés Manuel López Obrador and the Congress of the Union.
“It is said that the evolution of the Internet is cryptocurrencies and blockchains, but we have not even gone through that debate that must reach the Mexican legislative branch or the executive branch to know exactly what we can do,” Kempis explained during his speech at the virtual Talent Land Digital 2021 conference.
According to the senator, in Mexico there is no right to financial inclusion, an aspect that would be influencing the inequality that exists in the Aztec nation. The official is one of those who thinks the state must take on new challenges with bitcoin, but not be a controlling entity, but a regulator of the activity that would derive from the use of BTC.
A potential adoption in Mexico of bitcoin and the so-called distributed accounting technology or blockchains, would serve to counteract inequality and corruption, said Kempis, who considers these two of the biggest problems in Mexico and Latin America, along with violence.
To take these first steps, the senator suggested implementing pilot programs for, for example, the payment of national taxes, fines and even for crypto assets to be part of the treasuries of companies or official entities.
The legislator admitted that Mexico has enough human talent and technology to carry out an adoption of this type. However, he acknowledged that the weak point is the lag in rights and freedoms for financial inclusion. The problem, he said, is that less than half of the population has access to banking services.
In relation to the Mexican Fintech law, Kempis argued that it has not been implemented in the best way since there are “many limitations and even persecution to those who dare to be providers of new financial services”. The above would be violating people’s financial rights, the official said.
Bitcoin Adoption in El Salvador
In her participation in Talent Land Digital 2021, the senator applauded El Salvador’s decision to adopt bitcoin as legal tender. On the new Salvadoran Bitcoin Law, proposed before the National Assembly by President Nayib Bukele, Kempis said that the Central American country is daring in monetary matters.
Comparing the Salvadoran reality with that of her country, the official commented: “At what point Mexico is going to stop being part of these digital lags to be able to combat the problems. Why El Salvador, which has its conditions, and why not Mexico, which also has similar conditions?».
In the panel in which the senator intervened and which was called “Accelerating growth in Latin America with blockchain and Bitcoin”, Emilio Saldaña, director of linkage at the center for training and technological innovation U-Gob Lab, was also present. Both speakers were moderated by José Rodríguez, director of Blockchain Land.
Panelists agreed on almost all points, especially on the fact that don’t wait for a law for Bitcoin technology to be used in Mexico. On this point, Saldaña was clear in saying that, after what happened in El Salvador, a domino effect will be generated in other countries.
“The whole world is a real-time laboratory on new financial technologies, 86% of central banks are evaluating what an interaction of national currencies with bitcoin would be like. It would be very interesting to see Mexico, which has been prudent with this type of innovation, to turn around and set an example,” Saldaña explained.
The Talent Land Digital 2021 will continue live with conferences until next Thursday, July 8. CriptoNoticias is covering all the presentations related to the bitcoiner ecosystem, NFT and blockchains.