The Senate Building in Mexico City now has a Bitcoin ATM (Report)

 The Senate Building in Mexico City now has a Bitcoin ATM (Report)

The Senate building in Mexico City is home to the country's 14th Bitcoin ATM.

Another Bitcoin Automated Teller Machine (ATM) has apparently been installed in Mexico City, this time in the Senate building. Some local leaders, like Miguel ngel Mancera, were reportedly behind the action.

The Senate's Front Door has a Bitcoin ATM.

According to local reports, the Mexican government built the 14th Bitcoin ATM at the Senate building in Mexico City, indicating that the digital asset would be used again in the future. Cancun, Tijuana, Guadalajara, and Culiacán are among the cities with the remaining 13 such devices.

It's worth mentioning that the move was pushed through by certain well-known Mexican leaders. Miguel Angel Mancera, the past mayor of Mexico City, is one of them. He believes bitcoin has established itself as a viable rival to major payment networks like PayPal and Visa, and that it is on its way to becoming mainstream:

Indira Kempis, a Mexican senator and a proponent of the bitcoin industry, promoted the idea on Twitter. She yelled the well-known slogan "to the moon" as she stood close to the ATM.

Following that, Ricardo Monreal, President of the Senate's Political Coordination Board, suggested that Mexico's government should embrace the crypto business and create a regulatory framework. Other Central and South American countries, such as Panama, Argentina, Brazil, and Peru, have already joined the bandwagon, he noted. As a result, Mexico should follow suit to avoid falling behind in this area.

Is Bitcoin on the Verge of Being Accepted as a Legal Tender in Mexico?

Senator Kempis said in February that he will fight for legislation to make Mexico the second country, after El Salvador, to recognize bitcoin as a legal tender.

She also stressed the need for such legislation, citing the fact that millions of Mexicans lack access to fundamental financial services, and that cryptocurrency may be a viable alternative.

Kempis submitted a measure centered on digital assets over two weeks ago. It was not, however, intended to make BTC legal tender. Instead, she went against CBDCs, claiming that "only the central bank" in Mexico could create a digital currency.