Bitcoin transactions ‘akin to bartering,’ Bank of Mexico
The governor of the Bank of Mexico, Alejandro Díaz de León, dismissed Bitcoin’s (BTC) position as a reliable legal tender, citing price volatility as a major roadblock toward full-fledged adoption. Díaz de León said in a Reuters interview that Bitcoin’s position in today’s financial system resembles “a dimension of precious metals” when compared to the central bank’s fiat money. In stark contrast to El Salvador’s mainstream Bitcoin adoption that requires businesses to accept payments in Bitcoin, Mexico’s central bank chief questioned Bitcoin’s position as a viable legal tender:
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- CoinRado.com