The Bank of Mexico has shifted the launch date of the national digital currency (CBDC) from 2024 to 2025. This was stated by the Governor of the regulator, Victoria Rodriguez Ceha.

According to him, the CBDC will expand access to existing financial and payment instruments. With the help of the entity, the regulator aims to perform functions such as automation mechanisms and programmability.

Ceha emphasized that the Bank of Mexico, along with other institutions, is exploring the possibility of regulating cryptocurrencies to protect citizens. In June 2021, the regulator, the Ministry of Finance and the National Banking and Securities Commission recalled that digital assets do not have the status of a payment instrument, and also warned of sanctions for the use of bitcoin.

The Central Bank Governor added that the digital peso will not replace the traditional currency. However, in his view, the CBDC would be “a strategic alternative to existing payment instruments.”

In September 2021, the Bank of Mexico compared bitcoin to a high-risk exchange. A month later, the local exchange allowed the possibility of adding cryptocurrency futures.

Recall that in April 2022, the Bank for International Settlements described the increase in the efficiency of payment systems as the main motivation for the Central Bank of developing countries to review the CBDC.