LatinNews Regional Monitor: Mexico - 09 March 2018

* Mexico’s President Enrique Peña Nieto has promulgated the new law on financial technology institutions following its recent approval by the federal congress. The so-called ‘Fintech law’, which was promoted by the Peña Nieto government, seeks to regulate the provision of financial technology services (Fintech) such as crowdfunding, digital wallets, and the trading of cryptocurrencies and any other virtual assets. In order to do this, the Fintech law confers upon Mexico’s economic and financial authorities new powers that will allow them to regulate and control these services and mitigate the risks of money laundering and the financing of terrorism via these services.

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