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- Cryptocurrencies have witnessed mixed reactions worldwide, some being Bitcoin supporters, whereas some are vehement critics.
- Amidst this, Mexico has set up a new Bitcoin ATM in its Senate building.
- This is the country’s fourteenth crypto ATM with others installed in Guadalajara, Tijuana, Aguascalientes, Cancún, etc.
Cryptocurrencies are getting widespread adoption despite the scepticism by some authorities. And the number of crypto ATMs is also witnessing an increase.
Mexican Senate Building Get Its Own Bitcoin ATM
Mexico has got another crypto ATM installed, and it is now in its Senate building. A Bitcoin ATM was installed in the Senate building of Mexico recently with the support of various legislators like Miguel Ángel Mancera, who is the coordinator of the parliamentary group of the Party of the Democratic Revolution (PRD).
With this crypto ATM, there are now a total of 14 ATMs in the country. Earlier, Mexico installed them in its various cities like Guadalajara, Tijuana, Mexico city, Culiacán, San Miguel de Cozumel, Aguascalientes and Cancún.
Ahead of the Bitcoin ATM Installation, Mancera conducted a forum to discuss the analysis of a move to regulate cryptocurrencies in Mexico. He highlighted that Bitcoin (BTC) had surpassed the transaction volume of traditional payment systems like Mastercard, PayPal, and Visa. And that Bitcoin has reached us all and has already carried out over 62 Million transactions among just more than 109 Million accounts.
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According to coinatmradar.com, a crypto ATM tracker website, around 36,659 crypto ATMs are installed in 76 varied countries. The number of Crypto ATMs installed has increased considerably throughout the years, and last year saw the largest annual increase to date, with more than 20,000 machines added during 2021.
Mexico seems to increase the competition worldwide. It has constantly been giving thoughts regarding the crypto industry and its regulations. It is to look forward to what this second-largest economy in Latin America would do in the crypto space.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
