Senator Indira Kempis and JAN3 CEO Samson Mow are working towards making Bitcoin legal tender in Mexico, and their efforts could turn this into a reality.

Senator Kempis tweeted a picture of herself with Mow in Mexico on April 26th with the text: “Probably nothing… #Bitcoin legal tender”

JAN3 was named after the date of January 3rd, 2009, which marks the creation of the Bitcoin genesis block. The company's goal is to accelerate hyperbitcoinization and "fix the world."

In April 2022, JAN3 entered into a memorandum of understanding to establish Bitcoin infrastructure in El Salvador, which became the first nation to adopt Bitcoin as legal tender.

In Mexico, Mow spoke to Congress about the adoption of Bitcoin. He held a press conference surrounded by members of Mexico's Congress, where he discussed the three avenues to implement a Bitcoin strategy.

  1. The simplest and most direct approach, as outlined by Mow, is for Mexico to include Bitcoin in its national treasury, much like how countries hold foreign currency or gold reserve assets.
  2. Mow also suggested another method, which involves issuing a Bitcoin bond that is backed by Bitcoin. The funds raised from the bond issuance would be utilized to mine Bitcoin through the acquisition of mining equipment and infrastructure. The revenue generated from the mining process would then be used to pay off bondholders, while any excess coins would be held in reserves. “Mexico is an energy-rich country, and issuing a Bitcoin bond would be very simple to do here. It would lead to a large accumulation of Bitcoin,” explained Mow.
  3. The third option would be passing legislation to make Bitcoin legal tender, which would allow its unrestricted use as a currency. He also mentioned that Senator Kempis has been working on this legislation for several years.

Mow concluded:

A Bitcoin law would enshrine Bitcoin as legal tender and allow everyone to transact freely using Bitcoin.
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