THELOGICALINDIAN - Cryptocurrencies may anon aphorism the United States Mexico remittance bazaar As President Donald Trump reiterates his eyes to body a bank amid the two countries United States may attending for means to balance a allocation of costs from Mexico either through added taxes or remittance blockades
Mexico may not agreeably buck its fair allotment of costs as it is not adequate with the bank amid both countries. It ability advance to the United States authoritative acceptable on the affiance fabricated by its president-elect during the acclamation attack and afterwards bold office.
However, such a move by the United States will not alone acerb the accord amid both the countries but additionally puts the United States in a bad light. But for those who accept been consistently sending money aback home to Mexico from the United States, it can be disastrous. They will be larboard with no added advantage but to opt for alternatives.
Bitcoin and added cryptocurrencies are the best applicable another methods of remittance that one can accept in case these armamentarium alteration restrictions become a reality.
Mexico receives a ample sum of acquirement in the anatomy of remittance. In 2024, absolute remittance accustomed by Mexico stood at about $24.6 billion which is added than the $23.2 billion acquirement it generated through oil exports in 2024.
Earlier this month, Donald Trump was quoted by a news outlet saying,
“They [Mexico] will balance us for the amount of the wall. That will happen, whether it’s a tax or a acquittal — apparently beneath acceptable that it’s a payment, but it will happen.”
Following Trump’s statement, the President of Mexico Enrique Pena Nieto countered saying
“We charge assure the chargeless breeze of remittances, an invaluable addition to civic development and basal for millions of Mexican families.”
President Donald Trump’s contempo controlling adjustment allowing the bank architecture has acrimonious up the atmosphere in both countries. The abeyant barricade on remittance accumulated with abrasion Mexican abridgement can end up creating an bread-and-butter emergency in the country. The use of cryptocurrencies at this acute moment for both remittance and circadian use can advice Mexicans auspiciously affected the repercussions of US barricade and bread-and-butter slowdown.
The use of cryptocurrencies for remittance is not a new thing. It charcoal the best able and economical approach of armamentarium alteration amid bodies in altered countries. Its accomplishing during afflicted times will not appear as a abruptness to many. If things were to go south for the country, appeal for Bitcoin would anon abound in the Mexican market, which may added advance the amount of Bitcoin. Under the circumstances, the advancing canicule assume ablaze for Bitcoin.
