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LatinNews Regional Monitor: Mexico - 12 April 2018
Government moves quickly in Fintech race
In a 264-to-61 vote with one abstention on 1 March, Mexico’s federal chamber of deputies approved a bill regulating financial technology institutions (Fintechs), known as the ‘Ley para Regular las Instituciones de Tecnología Financiera’, or ‘Ley Fintech’ for short. The federal senate had approved the proposed new bill unanimously last December; after lower house approval President Enrique Peña Nieto quickly signed it into effect. What this means is that Mexico may be able to stake its claim as one of the global centres for the next wave of financial innovation.
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