For analysts like Vértiz, there is a need to give greater recognition to bitcoin in Mexico.
They see a new era coming for digital assets globally.
The return of Donald Trump to the presidency of the United States could have profound repercussions on the regulatory environment for bitcoin (BTC) and other cryptocurrencies in Mexico, according to financial sector analysts.
“The creation of a strategic bitcoin reserve by the United States would force the world to reconsider its vision of these assets, including Mexico,” said Álvaro Vértiz, partner and director of Dentons Global Advisors in the Aztec country. He believes that the authorities of the Bank of Mexico (Banxico) and the National Banking and Securities Commission (CNBV) would be incentivized to allow greater integration between digital assets and the traditional financial system, according to reported it the newspaper El Economista.
To date, Banxico has maintained a “healthy distance” policy towards bitcoin and other cryptocurrencies, a position that it reiterated in its “Financial Stability Report” from the end of 2024. As reported by CriptoNoticias, at that time, it reminded banks that they are prohibited from operating with bitcoin.
Banxico’s announcement was released just after Ricardo Salinas Pliego, owner of Grupo Salinas and Banco Azteca, expressed his support for bitcoin and cryptocurrencies on the social network X. The businessman had mentioned that his bank was working to incorporate cryptocurrencies and “continue to promote freedom,” in a public dialogue with Michael Saylor, CEO of MicroStrategy.
The authorities of that country consider that bitcoin is not money and most politicians don’t usually talk about the pioneering digital currency; much less does the current president Claudia Sheinbaum. Even so, Mexico surpassed Argentina in cryptocurrency adoption, according to data from the Chainalysis firm. This is because Mexico continues to climb positions in the ranking of cryptocurrency adoption, where it consolidated itself as the third country in Latin America with the highest use of bitcoin and other digital assets, leaving Argentina in fourth place.
Mexico needs improvements in bitcoin regulation
For analysts like Álvaro Vértiz, it is evident that there is a need to give greater recognition to these assets in the Aztec country.
“Stricter and closer regulation could make it easier for financial institutions to include cryptocurrencies in their portfolios, products and services, thus offering a new avenue to diversify investments.”
Álvaro Vértiz, partner and director in Mexico of Dentons Global Advisors.
Jorge López Farjeat, director of business development at TruBit, one of the most representative cryptocurrency exchanges in Mexico, thinks the same. for him it is “essential” to build bridges between the cryptocurrency industry and the government. This, “to develop a solid regulatory framework, which not only responds to the needs of Mexicans, but also promotes responsible adoption of these technologies,” he explained during an interview with CriptoNoticias.
The influence of US policies on cryptocurrency regulation in Mexico remains to be seen, but the sector remains alert to possible changes that could bring a new era for digital assets in the country. A change could not only benefit exchanges and other service providers that already operate with cryptocurrencies, but also fund operators and investment advisors, expanding the reach and acceptance of digital assets in Mexican territory.
“Mexican regulators must include this issue on their agendas, especially if the United States decides to accumulate large amounts of bitcoin as a strategic reserve.”
Álvaro Vértiz, partner and director in Mexico of Dentons Global Advisors.
Meanwhile, food inflation in Mexico, recorded last November, it was the second highest of the member countries of the Organization for Economic Cooperation and Development (OECD). In such a way that the country leads with Türkiye the highest increase in food prices among member countries of the organization.
That is why Ricardo Salinas has been recommending to the population: “buy bitcoin and save it.” He thinks bitcoin is the best store of value there is.
