Jurisdiction reference
Mexico
Regulator: CNBV. License/registration context: Licensing. 18 VASP/entity records are tracked by Plexo Institute in Mexico. Official registry source: CNBV ITF Registry. Data last updated: 2026-09-24.
Mexico prohibits public offering of stablecoins as a reserved banking activity under Banxico's 2021 Press Release No. 039/2021. Only authorized financial institutions (banks and FTIs) can operate with virtual assets under strict conditions. Private placement and reverse solicitation are permitted for authorized entities. The Fintech Law (2018) provides the primary legal framework. Enforcement focuses on AML/CFT compliance and tax reporting requirements. The regulatory stance prioritizes financial system stability and preservation of the Mexican peso's value.
Regulatory Status
- Jurisdiction code
- MX
- Regime
- Licensing
- Regulator
- CNBV
- Governing law
- FinTech Law (LRITF) 2018
- Travel Rule
- Legislated
- Tracked entities
- 18
- Recognized stablecoin backing
- crypto-backed, commodity-backed, algorithmic
- Yield-bearing stablecoins
- Restricted
- Currency
- MXN
Regulatory approach
Banxico sets monetary policy and virtual asset authorization requirements, maintaining healthy distance between virtual assets and the financial system. CNBV supervises financial institutions under the Fintech Law framework and enforces compliance requirements. SAT handles tax administration and ensures proper reporting of cryptocurrency transactions as taxable income from the sale of goods.
Licensed entities in Mexico
18 regulated-entity records tracked in Mexico by Plexo Institute.
| Entity | Status | License type |
|---|---|---|
| Airtm SA de CV | Licensed | ITF — Fondo de Pago Electrónico |
| BBVA México | Licensed | Institución de Banca Múltiple — Pilot Cripto |
| Binance México SA de CV | Registered | ITF — Operaciones con Activos Virtuales |
| Bitso SAPI de CV | Registered | ITF — Operaciones con Activos Virtuales |
| Cerro Capital SAPI de CV | Registered | ITF — Operaciones con Activos Virtuales |
| Clip | Licensed | ITF — Fondo de Pago Electrónico |
| Conekta SA de CV | Licensed | ITF — Fondo de Pago Electrónico |
| Cubobit | Registered | ITF — Operaciones con Activos Virtuales |
| Financer SA de CV | Registered | ITF — Operaciones con Activos Virtuales |
| Mercado Bitcoin México | Licensed | ITF — Fondo de Pago Electrónico |
| Mexo Exchange SAPI de CV | Licensed | ITF License (FinTech Law) |
| Nvio México | Registered | ITF — Operaciones con Activos Virtuales |
| Nvio Pagos México SAPI de CV | Licensed | ITF License (FinTech Law) |
| OKX México | Registered | ITF — Operaciones con Activos Virtuales |
| Tauros | Registered | ITF — Operaciones con Activos Virtuales |
| Tauros SAPI de CV | Licensed | ITF License (FinTech Law) |
| Trubit | Registered | ITF — Operaciones con Activos Virtuales |
| Volabit | Registered | ITF — Operaciones con Activos Virtuales |
Stablecoin laws in Mexico
Primary legal texts Plexo Institute tracks for Mexico.
- Fintech Law (Ley para Regular las Instituciones de Tecnología Financiera) (enacted 2018-03-09)
Establishes legal framework for fintech, defines “virtual assets,” and authorizes Banxico to regulate their use by financial institutions.
Relationship Graph
Jurisdiction FAQ
Who regulates Mexico?
The current Plexo Institute record lists CNBV as the regulator for Mexico.
How many VASPs are tracked in Mexico?
18 VASP/entity records are tracked by Plexo Institute in Mexico.
What is the Travel Rule status in Mexico?
The current Plexo Institute record lists the Travel Rule status for Mexico as Legislated.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.