Mexico lawmakers aim to follow the example of neighboring countries with proposed Bitcoin legislation

“We are going to lead the shift to crypto and fintech in Mexico,” said one senator.

Eduardo Murat Hinojosa, a senator of the federal government of Mexico, has said he will be submitting a proposal to lawmakers seemingly aimed at crypto adoption in the country.

In a tweet today, Hinojosa changed his profile picture to feature the senator speaking into a microphone with the iconic “laser eyes,” indicating support for crypto. The lawmaker said he would be “promoting and proposing a legal framework for crypto coins in Mexico’s lower house,” specifically mentioning Bitcoin (BTC).

Hinojosa was not the only Mexico lawmaker indicating their support for crypto. Indira Kempis Martinez, a senator representing the state of Nuevo León, has also switched her profile to show laser eyes, with Hinojosa referring to her as a friend to the cause.

“We are going to lead the shift to crypto and fintech in Mexico,” said Hinojosa.

The social media activity comes as countries in Latin America have seemingly been taking steps towards greater adoption of crypto. In a video announcement to attendees of the Bitcoin 2021 conference last week, El Salvador President Nayib Bukele said he would send a bill to the country’s legislature demanding that Bitcoin be made legal tender.

On Sunday, Paraguayan congressperson Carlitos Rejala hinted that crypto would be connected to “an important project to innovate Paraguay in front of the world” starting this week. Yesterday he added that he was working with local crypto figures “in order for Paraguay to become a hub for the crypto investors of the world.”

Though Mexico has many individual investors who back Bitcoin, authorities in the country reported last year that cartels had been increasing their use of crypto to launder funds. At the time, the head of the Mexican attorney general’s Cyber Investigations Unit said the country’s law enforcement lacked the resources needed to tackle money laundering when crypto was involved.

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Mexico’s Third-Wealthiest Individual Adds Bitcoin to His Twitter Bio

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Billionaires pushing crypto: Mexico’s third-richest person changes Twitter bio to include Bitcoin

Elon Musk continues pumping DOGE while Ricardo Salinas Pliego sticks to Bitcoin.

Ricardo Salinas Pliego, chairman at conglomerate Grupo Salinas and Mexico’s third richest person, is plugging Bitcoin on social media.

The billionaire with an estimated net worth of more than $13 billion as of January changed his Twitter bio over the weekend to include the Bitcoin (BTC) hashtag. Crypto Twitter users and some of Salinas’ more than 840,000 followers reported noticing the change Saturday around the time the price of the crypto asset surged to more than $40,000 for the first time in 23 days.

Speaking to Cointelegraph in December, Salinas revealed he had first purchased Bitcoin at $200 in 2013, later selling during the 2017 bull run when the price reached the $17,000s. He described the crypto asset as his “best investment ever.”

In November, Salinas said that 10% of his “liquid portfolio” is invested in BTC, with the remaining “in precious metals miners.” The 65-year-old billionaire bought in before the price of Bitcoin surged to new all-time highs in December and January, more than doubling his investment. He has said he isn’t planning on selling off any crypto holdings for at least five years.

Salinas is not the only billionaire using social media to push crypto recently. Today SpaceX CEO Elon Musk continued his push of the cryptocurrency Dogecoin (DOGE). Musk has targeted DOGE users in recent weeks as the token became entangled in a pump-and-dump effort by Reddit traders and investors. The price of DOGE has risen almost 600% in the last 30 days.

At the time of publication, the price of Bitcoin is $38,078, having dropped more than 5% in the last 24 hours.

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