According to the interview with the exchange’s director of operations, Daniel Luévano, Mexico’s Chamber of Deputies will soon vote on the bill to regulate the country’s fintech institutions including cryptocurrency exchanges, which the Senate has already approved.
Daniel Luévano said that cryptocurrencies will not be legal tender. Despite this fact, Financial Technology Institutions will be allowed to operate with them. He also stated that it will be legal to use any crypto to pay for goods and services.
According to the bill, the most significant changes in Mexican crypto ecosystem: Financial institutions will be able to operate with virtual assets, but also, they are allowed to invest in ITFs. ITFs will be constantly audited; everything must be transparent to regulators and consumers.
The Bank of Mexico will keep new technologies and strengthen the Mexican financial ecosystem because it doesn’t want to lose control of things they still don’t understand. The Bank will decide which crypto can be operated in the Mexican territory.
Daniel Luévano stated that crypto exchanges will need to get a license. More than that The Bank of Mexico will decide which cryptocurrencies are allowed to be listed on the exchanges.