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Mexicos Fintech Law now published and live

Friday 14 September 2018 10:38 CET | News

Mexico’s Fintech Law has come into effect, setting the standards for Latin American countries.

According to the National Banking and Securities Commission, the legislation was published in the Federal Official Gazette. The law is said to affect crowdfunding, online payments, and cryptocurrency companies. It’s worth pointing out that the official emphasised the flexibility in the legislation.

Companies wishing to enter the regulatory framework can now start doing so, in a 6-12 month process. Anti-money laundering (AML) reports will be handled through Mexico’s Ministry of Finance’s new Financial Intelligence Unit. This law has drawn from regulation in other countries and guided by international committees such as the Financial Action Task Force (FATF). The law was originally presented by President Enrique Pena Nieto in March 2018. It has been focusing largely on cybersecurity and fraud issues.


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Keywords: Fintech Law, Mexico, standards, Latin American countries, LATAM, National Banking and Securities Commission, crowdfunding, online payments, cryptocurrency, AML, fintech, Financial Intelligence Unit
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Countries: World