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On Tuesday, ATMs were installed in the backing of many lawmakers, including Miguel Angel Mancera, head of the parliamentary group of the Democratic Revolutionary Party (PRD).
Senator and cryptocurrency advocate Indira Kempis shared her excitement on Twitter, saying that this was "for freedom, inclusion and financial education in Mexico."
Coin ATM Radar, the country already has 13 such ATMs in Mexico, Tijuana, Cancun, Guadalajara, Culiacán, San Miguel de Cozumel and Aguascalientes.
After this BTC ATM was installed, prd representatives stated that Bitcoin has surpassed the amount of transaction payments through traditional payment systems such as PayPal, Visa, and Mastercard.
Mexico's interest in cryptocurrencies has skyrocketed in recent months. According to Triple A's 2021 cryptocurrency ownership data, 40% of Mexican companies are interested in integrating blockchain and cryptocurrencies. In this group, 71% focused on the use of cryptocurrencies.
Furthermore, the data shows that mexico's major cryptocurrency exchange, Bitso, has seen a 342% increase in transaction volume in 2020. The exchange also has more than 1 million users (92% of whom are Mexican).
In February 2022, Senator Indira Kempis of Nuevo Leon state said she was confident that Bitcoin should be a legal currency in Mexico because its use could help expand participation in finance around the world. However, billionaire and Bitcoin supporter Ricardo Salinas believes that for this to happen is difficult because his country is too dependent on regulatory control, which he considers "fiat money fraud".
