LatinNews Daily - 12 May 2022

In brief: Mexico reaffirms interest in digital currency

* Mexico’s deputy finance minister, Gabriel Yorio, has said that Mexico could be one of the first countries in the world to have a digital currency. He made his remarks at a presentation of the national survey of financial inclusion (Enif) presented by the bank superintendency (CNBV) in collaboration with the national statistics institute (Inegi). Jonathan Heath, the deputy governor of Mexico’s central bank (Banxico), first disclosed at the end of 2021 that the country’s financial authorities were working on the development of a Central Bank Digital Currency (CBDC). Unlike the decentralised anonymity of cryptocurrencies such as bitcoin, CBDCs are by definition controlled by the central bank, which has the power to establish operating parameters and protections against illicit use. Last month Banxico governor Victoria Rodríguez Ceja said that the central bank would launch a digital currency by 2025.

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