Mexican Senate Gets First Bitcoin ATM Machine, the Nation Eyes Making BTC Legal Tender
Brian Njuguna Apr 27, 2022 22:19
To offer Mexican lawmakers first-hand Bitcoin experience, ChainBytes and Axolotl Bitcoin have put up a Bitcoin ATM at the nation's senate building.
To offer Mexican lawmakers first-hand Bitcoin experience, ChainBytes and Axolotl Bitcoin have put up a Bitcoin ATM at the nation's senate building.
Senator Indira Kempis teamed up with ChainBytes, a Bitcoin ATM manufacturer, and Axolotl- a Mexican-based Bitcoin ATM operator- to deploy the ATM so that lawmakers could familiarise themselves with BTC transactions.
Staff will get more education about the benefits that Bitcoin mass adoption could render the nation.
Eric Grill, the ChainBytes CEO, welcomed the move and stated:
“We are thrilled to be a part of such a historical moment for Mexico. We hope that by placing our ChainBytes ATM in the senate building, we will help lawmakers get familiar with the technology and hopefully aid their decision to accept Bitcoin as a legal tender in Mexico.”
The Bitcoin ATM is expected to continue operating in the coming months before senators get the opportunity to discuss and vote on a petition by Senator Kempis to make BTC legal tender in Mexico.
Bitcoin becoming legal tender is gaining steam across the globe, given that the Central African Republic (CAR) has taken this route after El Salvador.
With curiosity, will, participation, and interest brewing among lawmakers and regulators in Mexico, Jose Rodriguez sees the Bitcoin ATM in the Senate building as a stepping stone towards more familiarisation.
The CEO and Director of Blockchain Land at Axolotl Bitcoin added:
“We are excited with the current openness in the Mexican Senate, and with Senator Indira Kempis' effort to bring this Bitcoin ATM and help towards a Bitcoin Regulation that could detonate the Bitcoin and Fintech industry in Mexico as it has happened in other countries.”
The establishment of Bitcoin ATMs is gaining traction because they offer the much-needed infrastructure when buying and selling BTC.
Reportedly, 22 Bitcoin ATMs were installed daily last month, and their preference is growing because they do not necessitate Know-Your-Customer (KYC) requirements needed by crypto trading platforms.
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