Senator Kempis and Samson Mow join forces for Bitcoin legal tender in Mexico

Senator Kempis and Samson Mow have recently announced their partnership to push for Bitcoin to become legal tender in Mexico. The two advocates believe that Bitcoin has the potential to revolutionize the country’s economy, and are working together to promote its adoption. This move could have significant implications for the global cryptocurrency market, resulting in increased mainstream acceptance and adoption of Bitcoin as a legitimate form of currency. Stay tuned for updates on their progress.

Mexico could be the next country to adopt Bitcoin as legal tender, thanks to the efforts of Senator Indira Kempis and Jan3 CEO Samson Mow. In April, Senator Kempis tweeted a photo of herself with Mow, along with the caption “Probably nothing… #Bitcoin legal tender.” Jan3, a company that aims to “fix the world” by accelerating hyperbitcoinization, recently signed a memorandum of understanding to develop Bitcoin infrastructure in El Salvador. Mow estimated that building Bitcoin City, a part of the development in El Salvador, could take up to ten years to complete.

Mow has also been addressing Congress in Mexico on Bitcoinization. During a recent press conference, Mow spoke about three paths to “adopt a Bitcoin strategy.” The first is to add BTC to the national treasury, similar to how countries hold gold or foreign currency reserve assets. Another method is to issue a financial bond instrument backed by BTC. The funds generated would be used to mine BTC by acquiring mining equipment and infrastructure. The last path is to legislate for Bitcoin legal tender, enabling the unrestricted use of it as a currency. Senator Kempis has been working on this for several years.

The Latin American Bitcoin revolution began in September 2021 when El Salvador passed the Bitcoin Law. Other Latin American countries, including Panama, Mexico, and Paraguay, were rumored to follow suit. However, Mexico’s legal tender plans were thwarted when the country’s central bank and financial regulator issued a joint statement rejecting the idea. Despite the setback, Senator Kempis is continuing her efforts to establish Mexico as a fintech hub with BTC as legal tender. She has taken it upon herself to draft legislation and support the bill through the democratic process.

With the growing interest in Bitcoin among Latin American countries, the technology could soon bring a new wave of financial innovation to the region. By developing Bitcoin infrastructure and legislation, Mexico could provide its citizens with improved access to financial services and potentially position itself as a leader in the digital currency space. Time will tell whether Mexico will become the next country to fully embrace Bitcoin as legal tender.

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