Mexico has passed a bill aimed at regulating the fintech industry, and it now needs only the signature of President Nieto to become law. The law will regulate cryptocurrency and ICO activities, and according to Reuters, is intended to “promote financial stability and prevent money laundering.” Key details of its implementation are yet to be hammered out. Over the following months, secondary laws will be created to flesh out the details of the new legislation. Because of this, it’s uncertain how the new law will affect the crypto market.
Mexico Passes Law Regulating Fintech Sector, Including Bitcoin, ICOs