Mexico is NOT prohibiting anything:
Banxico published new rules, represent a stagnation for the sector but do not stop our operation. We will continue to focus on our users; defending your right to access technology.
And the regulations are not even in place yet, there are still 83 days left for comments. Please enter your comment here:
You can get the Proposed Regulations PDF here (it's the 3rd/bottom one):
More info: "Banxico 2.0 Rules: Nothing changes, Bitso will continue to operate as it has until now".
However, this does not mean that the operation with cryptocurrencies is prohibited.
Since its inception, Bitso has functioned as a regulated platform based on international standards and best practices. Last year, with the publication of the Fintech Law, an innovation framework was created for end users, key players, companies, government and financial institutions. The foregoing, with the aim of promoting financial inclusion and promoting innovation in financial services, through the use of new technologies.
We believe that this circular is not in line with the principles of the Fintech Law, undermining principles of innovation, financial inclusion and competition to provide consumer benefits, which were pillars of this Act.
Among other things, we will continue to build a close dialogue with the authorities to promote the healthy development of the Fintech sector, for the benefit of all Mexicans and with the objective of continuing to position Mexico as a leader in innovation and financial inclusion with the use of new technologies.
In that sense we will promote that the rule contains the following characteristics:
- Be aligned with the Fintech Law.
- Follow the best international practices.
- Defend the right of Mexican users to technology.
In Bitso we will continue offering our services in the same way that we have done so far. On the other hand, rest assured that we are and will continue to defend your right to access technology.