Mexico’s president rules out accepting crypto as legal tender By

President of Mexico Andrés Manuel López Obrador said the country was unlikely to follow in El Salvador’s footsteps by adopting cryptocurrencies like as legal tender alongside fiat.

In a Thursday press conference, Obrador, also known as AMLO, said Mexico “must maintain orthodoxy” in its financial management and would not be changing its position on crypto. The Bank of Mexico and the National Banking and Securities Commission issued a statement in June warning that financial institutions were “not authorized to carry out and offer to the public operations with virtual assets,” but the president has not often spoken directly on the subject.