Central Bank of Mexico Studies The Possibility of Regulating Bitcoin
The president of the Central Bank of Mexico (Banxico), Agustín Carstens, declared the interest of the bank to understand very well how the Bitcoin technology works, which is why certain officials of that bank have carried out low-scale operations with Bitcoin, in order to become familiar with the cryptonnet, all this before a possible regulation, everything will depend on the results that the operations yield.
The operations that have been carried out have been done in order to learn about the operation of Bitcoin, Carstens in an interview, said:
“There have been learning efforts, it has not been used in any instance to do some central banking operation, rather they have been experiments of very small amounts.”
Among the main objectives of this experiment is to outline an eventual regulation of digital coins in the country, so that Banxico will take the time that is necessary for routine tests and to investigate how has been the experience of other countries with the adoption of Bitcoin .
“Obviously, the idea and this is the concept that encompasses the whole initiative, is to privilege technological financial innovation that serves to lower transaction costs and allow greater inclusion, but we have to be 100% convinced that we understand all the edges Of this change. It’s an issue where we’re going to go slowly but surely,” said Carstens. To avoid risks, the monetary authorities, will be aware that the technological support to be used is solid and robust, and thus avoid inconvenience to future users.
“The worrying thing is that periodically there are technical, technological, hacking, theft problems, and that makes us very nervous. Yes we have to be fully assured of technological integrity, well armored, and not expose the public,” said the central bank governor.
It should be noted that Bitcoin technology has become popular in Mexico for some time, which is why the authorities are interested in investigating this technology operations, in fact there is already a Bitcoin ATM in the Mexican capital.
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