Mexican “FinTech Law” Will Legitimize Crypto in Banks, on Payment Platforms

[kreslik.news]

Mexican Periodical El Universal recently reported that the latest draft of a bill currently being passed through the Mexican senate includes provisions to develop a legal framework that will allow Mexican banks to store cryptocurrencies.

The bill, which is entitled the “Law Regulating the Financial Technology Institutions”, colloquially known as the “Fintech Law”, has also been expanded to provide a framework for electronic payment-processing companies (ie PayPal) to process cryptocurrency transactions.

Additionally, the bill grants new permissions to the CNBV (Comisión Nacional Bancaria y de Valores) financial regulator that will allow new regulations to be put in place in tandem ... (read more)