Mexico To Regulate Bitcoin And Other Cryptocurrencies

Mexico is soon rolling out its new legislation to regulate its fast-paced financial technology sector, which includes firms that use cryptocurrencies like Bitcoin. Mexico is launching the bill in a bid to protect its customers and ensure financial stability and protection against money laundering and financing of extremists.

Mexico joins the list of countries, like the UK and the US who have not only regulated cryptocurrencies but also fintech companies. The financial companies are in hopes of cracking a huge budding market in the country where more than half of the 120 million population does not hold bank accounts.

The bill will introduce a new set of rules related to fintech companies which will reduce the cost and bring competition in crowdfunding sector and payment firms. The bill further mentioned of regulating businesses that work with digital currencies like Bitcoin.

Mexico is untouched market worldwide, especially in the Latin America.

Recent Posts

Bitcoin mining as a catalyst in the world’s transition to green energy

Bitcoin mining to drive the world’s transition to green energy. This is what Mike Colyer, Chief Executive Officer of Foundry Digital,…

12 hours ago

April 14, HUGE day for Crypto as Coinbase direct listing is just hours away

Today is a huge day for Crypto. Coinbase, the top cryptocurrency exchange in the United States, will launch its COIN…

14 hours ago

Bitcoin is not a good option for criminals, says former CIA Director in a new report

Bitcoin is not really being used in money laundering operations. And considering the fact every transaction is recorded on the…

1 day ago

“caged bull” Bitcoin breaks into a new all-time high of almost $63,000

Just a day after Bloomberg analyst Mike McGlone called Bitcoin a “caged bull, well rested to escape”, the latter seemed…

1 day ago

Ripple files motions to dismiss lawsuit as XRP blasts to new three-year high

Just before the weekend, Judge Sarah Netburn ruled that Ripple executives Brad Garlinghouse and Chris Larsen’s did not have to…

1 day ago

Cardano, more than a hedge against Ethereum?

In a new video on the popular YouTube channel ‘Coin Bureau’, host Guy shares his thoughts on Cardano and the…

2 days ago