Central Bank of Mexico has postponed the launch of the digital peso
As Victoria Rodríguez Ceja, head of the Bank of Mexico, noted, the digital currency will have additional features that will make financial processes automatic and accelerate them.
The launch of Mexico’s digital currency was planned in 2024, but will be postponed until 2025. This delay is due to the fact that the regulator plans to introduce new automation mechanisms in order to speed up payment processes.
The regulator plans to deploy new automation mechanisms to speed up payment processes.
As for cryptocurrencies, despite the statements of Mexican President Manuel López Obrador, who noted that bitcoin or any other cryptocurrency will not be accepted as legal means of payment, the Bank of Mexico, according to Rodríguez, will legalize their circulation in the country.
The Central Bank is currently exploring the possibility of regulating cryptocurrencies to protect Mexicans during transactions.
According to her, the digital peso will not be a replacement for traditional currency or banknotes.
The digital currency seeks to create means of payment that will be aimed at affordability and expand the possibilities for secure, and most importantly, fast and efficient international payments and implement automation and programmable functions,said Victoria Rodríguez Ceja, head of the Bank of Mexico.
So far, cryptocurrencies are very different from CBDCs due to their decentralized nature,said Rodríguez Ceja.
