Jurisdiction reference
Mexico
Regulator: CNBV. License/registration context: Licensing. 18 VASP/entity records are tracked by Plexo Institute in Mexico. Official registry source: CNBV ITF Registry. Data last updated: 2026-08-28.
Mexico prohibits public offering of stablecoins as a reserved banking activity under Banxico's 2021 Press Release No. 039/2021. Only authorized financial institutions (banks and FTIs) can operate with virtual assets under strict conditions. Private placement and reverse solicitation are permitted for authorized entities. The Fintech Law (2018) provides the primary legal framework. Enforcement focuses on AML/CFT compliance and tax reporting requirements. The regulatory stance prioritizes financial system stability and preservation of the Mexican peso's value.
Regulatory Status
- Jurisdiction code
- MX
- Regime
- Licensing
- Regulator
- CNBV
- Governing law
- FinTech Law (LRITF) 2018
- Travel Rule
- Legislated
- Tracked entities
- 18
- Recognized stablecoin backing
- crypto-backed, commodity-backed, algorithmic
- Yield-bearing stablecoins
- Restricted
- Currency
- MXN
Regulatory approach
Banxico sets monetary policy and virtual asset authorization requirements, maintaining healthy distance between virtual assets and the financial system. CNBV supervises financial institutions under the Fintech Law framework and enforces compliance requirements. SAT handles tax administration and ensures proper reporting of cryptocurrency transactions as taxable income from the sale of goods.
Relationship Graph
Jurisdiction FAQ
Who regulates Mexico?
The current Plexo Institute record lists CNBV as the regulator for Mexico.
How many VASPs are tracked in Mexico?
18 VASP/entity records are tracked by Plexo Institute in Mexico.
What is the Travel Rule status in Mexico?
The current Plexo Institute record lists the Travel Rule status for Mexico as Legislated.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.