Elektra, a Mexican retail establishment, will accept bitcoin as payment for services

<p>According to a recent Reuters report, Mexican retailer Elektra will begin accepting the leading cryptocurrency bitcoin (BTC) as payment for its services, making it the first in the country to do so.</p> <p>Ricardo Salinas Pliego, a Mexican billionaire and founder of Grupo Salinas, which owns Elektra, confirmed the news via a tweet today, stating that the retail store will "offer a 20% discount on bitcoin purchases."</p> <p>"It is true that the rumours are true. Elektra is Mexico's first retail store to accept bitcoin payments... I'm truly sorry for defeating the competition once more," he added.</p> <p>As part of the development, the firm has selected BitPay as its BTC payment processor.</p> <p>Salinas is a Bitcoin enthusiast, as he stated in a tweet six months ago that he was looking for ways to convince Banco Azteca, a banking institution that is a subsidiary of Elektra, to accept Bitcoin as a payment method.</p> <p>"Certainly, I recommend the use of #Bitcoin, and my bank and I are working to become the first bank in Mexico to accept it; if you require additional information or details, follow me on my Twitter account," he tweeted.</p> <p>Mexican Regulators Do Not View Bitcoin as a Form of Payment</p> <p>At the moment, there are no official prohibitions or restrictions on the use of cryptocurrency in Mexico.</p> <p>However, the country's government and regulatory authorities have criticised and taken a more stringent stance on regulating the emerging asset class.</p> <p>In September, Mexico's Central Bank Governor Alejandro Daz de León expressed disapproval of BTC, stating that he views it as a product rather than a medium of exchange.</p> <p>Diaz stated that anyone who accepts BTC as payment for goods is engaging in barter trade – the exchange of goods for goods.</p> <p>Additionally, he stated that the only thing that should be considered money are fiats issued by a country's central bank.</p> <p>Meanwhile, despite widespread criticism, the leading cryptocurrency continues to be used as a medium