Mexican authorities reacted to Banco Azteca's Bitcoin camp

by in Cryptocurrency News

Mexico

Earlier this week, it became known that one of the largest banks in South America is ready to work with bitcoin (BTC).

Related: Banco Azteca will handle bitcoin transactions

Mexican Banco Azteca will be able to become part of the infrastructure for processing crypto transactions, said the head of this financial giant Ricardo Salinas Pliego. The Ministry of Finance of Mexico reacted to the information received but did not directly comment on the businessman's statement.

The head of the financial department of the Latin American state, Arturo Herrera, said that digital currencies in Mexico are not a legal payment instrument. There is no regulatory legislation in the country, and the government is unlikely to be able to change the situation in the short term.

The minister did not directly criticize the billionaire. He was only reminded about the illegality of using bitcoin and other coins. Herrera outlined his position at one of the events dedicated to the modernization of the financial system and countering the legalization of criminal proceeds.

In the near future, the Ministry of Finance of Mexico will publish a document containing the official position of the government on this issue.

Mexico's central bank also reminded citizens that bitcoin is not a payment instrument. Investing in cryptocurrencies comes with great risks associated with fraud and speculation.