This article is from es.cointelegraph.com and the original article can he read here
Mexican Senator Indira Kempis MartĂnez presented an amendment to article 22 of the Monetary Law of the Latin American country in order to promote the creation of a central bank-backed digital currency (CBDC).
The amendment adds the term “virtual assets” to the language of Article 22 as well as the term “Central Bank Digital Currency” so that the Ministry of Finance and Public Credit can be empowered to replace the alloys of legal tender coins in Mexico.
The operations of financial systems “require the intervention of the Mexican State through the creation of laws, secondary provisions and, above all, the generation of public policies that promote development and economic growth; the stability of the financial system and the protection of users”explains the draft.
“The intervention of the Mexican State in the economy must be appreciated and assumed by the different legal operators as a native and inescapable relationship with the discourses of human rights, competitiveness and development”, says Kempis, arguing that the intervention of the Mexican State in the financial systems.
The bill also outlines the need for the Mexican state to protect users from malicious service providers, whether intentional or not.
In the draft, Kempis details how certain protocols, like Bitcoin, are decentralized and allow anyone with a node to join the network and participate in its trustless security mechanism.
Despite this, the senator is quick to clarify that this decentralization is not necessary for a form of digital money.
“As for the protocols, the computers that operate in the network, that record the transactions of the road assets, must follow the rules of emission to confine the transactions, and those rules must be established in predetermined protocols,” says the project of law. “There is a possibility that new computers could be part of the network. However, it is not a necessary feature”, concludes Kempis.
The foregoing contrasts with Kempis’s position during the Bitcoin Conference Miami 2022, where she advanced his intentions to create a bill to convert Bitcoin into legal tender in Mexico.
Despite this, the senator responded to the concerns on her Twitter to some bitcoiners about this crossing of positions, pointing out that the legislation presented was a necessary component for the larger goal of making Bitcoin legal tender in her country.