Mexico Stablecoin Regulation
Stage: Live
Regulator: Banxico (Bank of Mexico) / CNBV (National Banking and Securities Commission) / SAT (Tax Administration Service)
Mexico prohibits public offering of stablecoins as a reserved banking activity under Banxico's 2021 Press Release No. 039/2021. Only authorized financial institutions (banks and FTIs) can operate with virtual assets under strict conditions. Private placement and reverse solicitation are permitted for authorized entities. The Fintech Law (2018) provides the primary legal framework. Enforcement focuses on AML/CFT compliance and tax reporting requirements. The regulatory stance prioritizes financial system stability and preservation of the Mexican peso's value.
Applicable Laws:
- Fintech Law (Ley para Regular las Instituciones de Tecnología Financiera) - https://www.diputados.gob.mx/LeyesBiblio/pdf/LRITF.pdf
