Mexico's central bank stifled the cryptocurrency enthusiasm expressed by one of its top bankers over the weekend.Ricardo Salinas Pliego is a magnate who owns large retail and banking operations. He wrote on Sunday that Bitcoin was a good investment. His Banco Azteca said that he was looking at ways to make it possible for the public to purchase the cryptocurrency.The best way to diversify your portfolio is with Bitcoin. I believe every investor should research cryptocurrencies and their future. Banco Azteca is committed to bringing them to customers and promoting freedom.Mexico's central bank warned Monday that transactions using cryptocurrencies are not permitted in Mexico. It pointed out the volatility of cryptocurrencies as well as the fact that they are not backed up by any government.The Bank of Mexico stated in a statement that the country's financial institutions are not permitted to offer or conduct public transactions using virtual assets such as Bitcoin.It stated that anyone offering or issuing such instruments will be held accountable for violating the rules and be subject to any applicable sanctions.The central bank is independent from the government and has been different from Lpez Obrador in past.This was a rare repudiation for Salinas Pliego's bank, which was awarded a contract to manage cash-transfer cards by Lpez Obrador for anti-poverty government programs. Esteban Moctezuma was also named by the president as Mexico's ambassador to America.Analaysts stated that Salinas Pliego was the primary beneficiary of a 2020 bill by Lpez Obradors Morena party, which would have required the central bank to buy up U.S. Dollars that private banks couldn't sell. Due to increased sensitivity regarding money laundering, Salinas Pliegos bank is said to have the greatest problem with excessive U.S. cash holdings. After objections from central bank officials, the bill was struck down.Salinas Pliego may have been frustrated by his bank's difficulties with U.S. Dollars, which could explain his enthusiasm for cryptocurrency. He also included a graphic allegedly referring to inflation that read: "The dollar has silently stolen you purchasing power since 1913." Buy Bitcoin!
