Mexico’s finance minister reiterates crypto ban after bank unveils Bitcoin (BTC) plan

Mexico’s finance minister reiterated his country’s ban on cryptocurrencies on Monday, saying they are not legal tender and are not to be treated as currencies within the country, according to Yahoo! Finance.

Fast facts:

  • Mexico’s ban has been in place since 2019, when the country sought to restrict crypto exchanges dealing in fiat currency from accessing the country’s banking system.
  • On Sunday, Ricardo Salinas Pliego, billionaire owner of Banco Azteca, announced that the lender was planning to accept Bitcoin. Although Monday’s announcement by Finance Minister Arturo Herrera was not explicitly tied to Salinas’ comments, the announcements came within hours of one another.

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