MEXICO |
Fintech law approved. On 1 March, Mexico’s federal chamber of deputies gave final approval to the so-called ‘Fintech law’ bill that seeks to regulate the provision of financial technology services (Fintech) such as crowdfunding, digital wallets, cryptocurrencies, and any other virtual assets. The bill was tabled by the federal government in October 2017, approved by the federal senate two months later and now passed to President Enrique Peña Nieto for promulgation. It confers upon Mexico’s economic and financial authorities, including the central bank (Banxico), the national banking and securities commission (CNBV), and the federal finance ministry (SHCP), the power to regulate and control these services.
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