Thursday
September 21
2017

Mexico readies bill to regulate fast-growing fintech industry

Mexico would regulate its fast-growing financial technology sector, including firms that use crypto-currencies like bitcoin, to protect consumers and spur competition, under a proposed bill seen by Reuters.

The proposed legislation, which Mexican President Enrique Pena Nieto said this month would be unveiled in the Senate before Sept. 20, seeks to ensure financial stability and defend against money laundering and financing of extremists.

The new measures will allow Mexico to join a small list of countries, including the United States and Britain, that have sought to regulate fintech firms.

Source: Reuters (link opens in a new window)

Categories
Inclusive Fintech
Tags
cashless, cryptocurrency, digital payments, digital wallet, financial services, financial technology, fintech, Latin America, Mexico, unbanked