After we covered yesterday on Arab Bitcoin an article stating that Paraguay will not legalize Bitcoin to become an official currency like El Salvador, where the Paraguayan congressman denied this:

Paraguay will not legalize Bitcoin, according to a government official

The Mexican government also appears to have no interest in becoming the next Bitcoin nation, as it does not want its own banks to go down that path.

Mexico Says No to Cryptocurrency:

Share Arturo Herrera Gutierrez, Minister of Finance and Public Credit of the Government of Mexico, posted on his Twitter account an official statement from the country’s Central Bank, the Ministry of Finance, and the National Commission for Banks and Securities stating that Mexico has a similar view of the Securities and Exchange Commission (SEC) in the United States of America.

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Gutierrez added in the statement:

Virtual assets are not considered money according to the current law and banks are not allowed to work with cryptocurrencies in any way.

Financial institutions in the country are not authorized to perform or offer public operations with virtual assets such as Bitcoin, Ethereum, XRP and others in order to maintain a healthy distance between them and the financial system.

In recent days, there has been a lot of interest around #cryptocurrency.

In this statement Tweet embedAnd the Tweet embed y Tweet embed We support the institutional position on this matter. pic.twitter.com/Zasd01lIxS

– Arturo Herrera Gutiérrez (@ArturoHerrera_G) June 28, 2021

The statement warns that those attempting to offer any cryptocurrency related product will be subject to legal penalties in accordance with the penal code and other criteria.

Regulators in Mexico added that operations using stablecoins are also prohibited even though these assets do not have the usual volatility of traditional cryptocurrencies.

The advertisement places an almost certain curb on the intentions of many attempts to adopt crypto.

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He appears to be responding to reports that Banco Azteca, the tenth largest bank in the country according to BNAmericas, is working on a new cryptocurrency-related service.

Ricardo Salinas, CEO of Banco Azteca, is the third richest man in Mexico and has been close to Bitcoin for a long time.

Salinas previously made several statements about the cryptocurrency’s adoption and use case as a store of value and claimed to have around 10% of his liquid investment portfolio in the form of Bitcoin.

The tweet that could have started it all:

In response to a tweet posted by Michael Saylor, CEO of Microstrategy, Ricardo Salinas confirmed that bitcoin is much better than gold and later revealed that Banco Azteca was working on solutions that would allow its customers to trade cryptocurrency.

The tweet can be translated as follows:

Bitcoin is a good way to diversify your investment portfolio and I think any investor should start studying cryptocurrencies and their future.

We are working to provide crypto services to our customers and continue to promote freedom.

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The news garnered more than 2,700 likes and spread like wildfire among crypto enthusiasts in the country.

But it seems that it was enough for the rumor to reach the ears of the authorities to issue a warning that practically kills the dreams of “Salinas” and many others.

But the bitcoin-loving billionaire won’t give up soon.

In response to the post claiming that the central bank has “locked down” Salinas’ plans to accept bitcoin, Salinas responded with a challenge:

We’ll see.

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