Bank of Mexico pushed back the launch timeline for the national digital currency (CBDC) from 2024 to 2025. This заявила the regulator’s governor Victoria Rodríguez Secha.
In her view, the CBDC would broaden access to existing financial and payment instruments. With the asset, the regulator intends to implement features such as automation and programmability mechanisms.
Secha stressed that the Bank of Mexico, together with other agencies, is studying the possibility of regulating cryptocurrencies to protect citizens. In June 2021, the regulator, the Finance Ministry and the National Banking and Securities Commission reminded that digital assets do not have status as a means of payment, and warned of sanctions for using Bitcoin.
The central bank governor added that the digital peso would not replace the traditional currency. However, in her view, a CBDC would be a “a strategic alternative to current payment instruments.”
In September 2021, the Bank of Mexico compared Bitcoin with a barter instrument, the use of which carries a high risk. A month later, the local stock exchange allowed the possibility of adding cryptocurrency-based futures.
In April 2022, the Bank for International Settlements said that improving payment-system efficiency was the main motivation for central banks in developing countries to study CBDCs.
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