The Mexican Bank does not consider cryptocurrencies as money, but as goods and therefore they are "barter" in its eyes. It does not seem that they will follow the lead of El Salvador and the proposal of the cryptocurrencies in Panama.
According to the central bank of Mexico, Bitcoin and any other cryptocurrency such as Ethereoum or Dogecoin, are a means of barter and are not equivalent to fiat money. That is, they are not considered a currency with a security backed by a country or a body of power, and they qualify it as a high risk investment and a poor store of value.
It does not seem that Mexico is going to implement cryptocurrencies as legal tender
Comments from the Governor of the Bank of Mexico, Alejandro Díaz de León, suggest that Mexico will not follow countries like El Salvador in adopting cryptocurrencies as legal tender parallel to the one they already have. It states that whoever receives Bitcoin in exchange for a good or service is more like bartering because that person is exchanging a good for a good, but not really money for a good.
Mexico compared Bitcoin and the rest of cryptocurrencies with precious metals and not as daily legal tender. They consider that money should be a reliable payment method, and for this, among other things, you would need to insure its value.
It is seen that they have seen the numerous times that a cryptocurrency has devalued its value, such as when China decided to ban them and affected its global value, or that despite the fact that El Salvdor adopted Bitcoin as legal tender, its value fell despite the fact that the country has invested several million in the currency. The Bank of Mexico exposed it by warning that people will not want their purchasing power or salary to go up or down 10 percent from one day to the next due to events that are beyond the control of the country. The volatility of cryptocurrencies is a factor that worries Banco de Mexico, and that is why they see it as an investment good at best.
Source: 360 Gadgets
