FinTech Law and Cryptocurrency in Mexico: What You Can and Can't Do in 2025

Mexico Crypto Compliance Checker

Check Your Crypto Business Compliance

This tool helps you determine if your business activities comply with Mexico's Fintech Law. Based on your responses, we'll provide guidance on whether you're in compliance or at risk of violating regulations.

What type of business are you running?

What crypto-related activities do you perform?

Accepting crypto as payment for goods/services

Trading crypto (buying/selling)

Holding or storing crypto for customers

Offering crypto lending or staking services

Operating a crypto exchange platform

Do you have the following compliance measures in place?

Know Your Customer (KYC) verification for all customers

Anti-Money Laundering (AML) monitoring systems

Reporting transactions over $5,000 USD equivalent to the FIU

Appointed Compliance Officer and CISO with full-time commitment

If you’re using cryptocurrency in Mexico, you might think it’s legal because you can buy Bitcoin on local exchanges. But here’s the catch: the law doesn’t treat crypto like cash. It’s not banned, but it’s not fully accepted either. And if you’re running a business that touches crypto, the rules are strict, complex, and changing fast.

How Mexico’s Fintech Law Works (2025 Version)

Mexico’s Fintech Law, passed in 2018, was the first of its kind in Latin America. It didn’t just slap rules on digital banks - it created a whole new category of financial institutions. Today, companies that offer digital payments, crowdfunding, or crypto-related services must be licensed by the National Banking and Securities Commission (CNBV) Mexico’s primary financial regulator responsible for supervising fintech institutions and enforcing compliance with the Fintech Law and monitored by the Bank of Mexico (Banxico) Mexico’s central bank that regulates electronic payment systems and virtual asset transactions.

There are only three types of licensed fintech operators: crowdfunding platforms, electronic payment fund providers, and sandbox-tested innovators. That’s it. If your business does anything else - like offering crypto trading, staking, or lending - you’re either operating in a gray zone or breaking the law.

Every licensed company must have two key roles filled: a Compliance Officer and a Chief Information Security Officer. These aren’t titles you can hand to an intern. They need real expertise, full-time attention, and direct reporting lines to regulators. Many small startups can’t afford this overhead. That’s why most crypto-focused businesses in Mexico are either foreign-backed giants like Nu A Mexican digital banking platform that operates under the Fintech Law and offers digital wallets and payment services or local giants like Mercado Pago A major digital payment platform in Mexico that complies with CNBV regulations for electronic fund transfers.

Cryptocurrency Is Legal - But Only for Individuals

You can buy Bitcoin on Bitso or Binance, hold it in a wallet, send it to a friend, or even use it to pay for services from a private seller. No law says you can’t. But if you’re a bank, payment processor, or fintech startup - you’re under heavy restrictions.

Financial institutions are banned from directly holding, trading, or offering crypto as a service. That means no crypto-to-fiat exchanges operated by banks. No crypto savings accounts. No staking rewards through Mexican fintech apps. Even if a company claims it’s “just a wallet,” if it’s converting crypto to pesos, it’s violating the law unless it’s licensed under the Fintech Law - and no license currently covers that activity.

The only legal way for a business to touch crypto is through the Financial Intelligence Unit (FIU) Mexico’s agency responsible for monitoring suspicious financial transactions and enforcing anti-money laundering rules reporting system. If you’re a crypto exchange or a business accepting crypto payments, you must:

Verify every customer’s identity using official ID (INE, passport, etc.)
Identify who really owns the business (beneficial owners)
Monitor all transactions for unusual patterns
Report any transaction over $5,000 USD equivalent to the FIU
Keep all records for at least five years

Failure to do this isn’t a fine. It’s a criminal offense. The FIU has cracked down on unlicensed crypto platforms before. In 2023, three unregistered platforms were shut down after laundering over $28 million in crypto through Mexican bank accounts.

Why the Gray Zone Is Getting Riskier

Many people think Mexico’s rules are outdated. And they’re right. The Fintech Law was written before DeFi, before NFTs, before stablecoins became mainstream. Today, people are using USDT to pay for rent, send remittances, or buy groceries - but the law doesn’t recognize any of that.

Regulators know this. In 2024, Banxico started testing a digital peso pilot with five banks. That’s a sign they’re moving toward a central bank digital currency (CBDC). But until then, crypto remains outside the formal system. And that creates a dangerous mismatch.

For example: a small business owner in Guadalajara accepts USDC from a customer in the U.S. to pay for handmade jewelry. She converts it to pesos through a peer-to-peer app. No bank involved. No KYC. No reporting. Is that illegal? Technically, yes - because she’s acting as an unlicensed financial intermediary. But no one’s checking. Until they do.

Experts like Romina Benvenuti from Nu Mexico warn that this gap is hurting innovation. “We’re stuck between a law that protects consumers and a market that’s moved on,” she said in a 2025 fintech summit. “If we don’t update the rules, Mexican startups will keep moving to Colombia, Brazil, or even Singapore.”

Small business owner accepts crypto payment while FIU agents observe nearby.

What’s Coming in 2025: Fintech Law 2.0

There’s growing pressure to rewrite the law. Industry leaders, including Stori A Mexican fintech company offering digital credit and financial services to underserved populations and CONDUCEF Mexico’s consumer protection agency for financial services that enforces transparency rules for fintechs, are pushing for “Fintech Law 2.0.” The goal? Make it flexible enough to include new models without sacrificing security.

Proposed changes include:

Creating a new license category for virtual asset service providers (VASPs)
Allowing regulated fintechs to offer custody and trading services for crypto
Harmonizing rules with international AML standards to make cross-border payments easier
Reducing compliance costs for startups through tiered licensing (basic vs. advanced)

These changes aren’t guaranteed. But the momentum is real. In March 2025, the Mexican Congress began reviewing amendments to the Securities Market Law that could open doors for fintechs to raise capital through tokenized assets. That’s a big deal - it could let startups issue digital shares or bonds under regulatory oversight.

What This Means for You

If you’re an individual using crypto in Mexico: you’re fine. Just don’t pretend it’s legal tender. Don’t expect banks to support it. And don’t assume your crypto transactions are private - the FIU can trace them if they suspect fraud.

If you’re a business owner:

Don’t offer crypto trading or conversion unless you’re licensed - and no license currently allows it.
If you accept crypto as payment, document everything. Know your customer. Report big transactions.
Don’t use foreign crypto platforms to bypass Mexican rules. That’s how you get flagged.
Start preparing for 2025 changes. If Fintech Law 2.0 passes, early adopters will have a head start.

For startups: the cost of compliance is high. Hiring a compliance officer and CISO can cost $80,000+ per year. That’s why most new crypto businesses either partner with licensed fintechs or operate offshore. But that’s not sustainable. The future belongs to those who play by the rules - even if the rules are still being written.

Split scene showing Mexico's digital peso and crypto startups amid ticking clock.

Financial Inclusion Is the Real Goal

Mexico still has 38% of its adult population unbanked. That’s 32 million people. Fintech was supposed to fix that. And it has - in some ways. Digital wallets, mobile payments, and microloans are now common. But crypto hasn’t helped much here.

Why? Because crypto isn’t accessible. You need a smartphone, internet, ID, and understanding of blockchain. Most unbanked Mexicans don’t have those. Fintechs that focus on simple, peso-based digital wallets - like Stori A Mexican fintech company offering digital credit and financial services to underserved populations - are the ones actually closing the gap.

The real question isn’t “Can you use crypto?” It’s “Should you?” If your goal is to serve the unbanked, crypto isn’t the answer. But if you’re building a business that wants to scale across borders, understanding Mexico’s fintech rules is your first step.

Final Reality Check

Mexico didn’t ban crypto. It just refused to make it part of the financial system. That’s not a mistake - it’s a strategy. They want to control the risks before the chaos arrives. And in 2025, that’s still the safest bet.

But the clock is ticking. Every day without clear rules creates more uncertainty. More risk. More missed opportunities. The next version of the Fintech Law won’t be about stopping innovation. It’ll be about channeling it - safely, legally, and profitably.

If you’re in Mexico and working with crypto, don’t wait for the law to catch up. Get ahead of it. Know the rules. Document everything. And prepare for change - because it’s coming.

Is it legal to buy Bitcoin in Mexico?

Yes, individuals can legally buy, hold, and send Bitcoin and other cryptocurrencies in Mexico. You can use local exchanges like Bitso or international ones like Binance. However, financial institutions - including banks and licensed fintechs - are not allowed to offer crypto trading or custody services as of 2025.

Can Mexican fintech companies offer crypto wallets?

No. Current Fintech Law licenses only cover crowdfunding, electronic payment funds, and sandbox testing. None of these allow crypto custody or conversion. Companies like Nu and Mercado Pago offer digital wallets - but only for pesos and fiat-based transactions. Any wallet that holds or trades crypto operates outside the law unless it’s a foreign platform with no Mexican entity.

What happens if I accept crypto as payment for my business?

You’re not breaking the law by accepting crypto, but you’re now subject to AML rules. You must verify your customer’s identity, monitor transactions, and report any suspicious activity - especially if you convert crypto to pesos. If you don’t, you risk being flagged by Mexico’s Financial Intelligence Unit. Many small businesses ignore this, but enforcement is increasing.

Is there a digital peso in Mexico yet?

Not yet. The Bank of Mexico began testing a central bank digital currency (CBDC) pilot in late 2024 with five banks. It’s still in early stages and not available to the public. If launched, it would be a government-backed digital peso - completely separate from Bitcoin or Ethereum.

Why is Mexico’s crypto regulation considered outdated?

The Fintech Law was written in 2018, before DeFi, NFTs, and stablecoins became mainstream. It doesn’t define or regulate virtual assets as financial instruments. While countries like Brazil and Colombia have moved toward open finance and clearer crypto rules, Mexico’s system still treats crypto as a technical curiosity - not a financial tool. This creates confusion for businesses trying to innovate.

Will Mexico legalize crypto exchanges in 2025?

It’s likely. Multiple industry groups and regulators are pushing for “Fintech Law 2.0,” which would create a new license category for virtual asset service providers. While no law has passed yet, Congress began reviewing amendments in early 2025. If approved, regulated crypto exchanges could launch by late 2025 or early 2026.

Do I need to pay taxes on crypto in Mexico?

Yes. The Mexican Tax Administration Service (SAT) treats cryptocurrency as an asset. If you sell, trade, or convert crypto and make a profit, you owe capital gains tax. You’re required to report these transactions in your annual tax return. Failure to do so can result in fines or audits.

Can I use crypto to send money to family in Mexico?

Yes - and many people do. Crypto is often used for remittances because it’s faster and cheaper than traditional services like Western Union. But if the recipient converts it to pesos through a local exchange or peer-to-peer platform, the recipient may trigger AML reporting requirements. The sender is not regulated, but the receiver could be if they’re acting as a financial intermediary.

23 Comments

Jenny Charland
November 26, 2025 AT 06:40

lol so crypto is legal but only if you're not a business?? 🤡 Mexico's rules are wild. I bought BTC last week and my friend converted it to pesos via Telegram - no one cares. Until they do. Then it's 'oh no we didn't know'.
preet kaur
November 27, 2025 AT 15:33

In India we have similar confusion. Crypto isn't banned, but banks act like it's radioactive. I get it - they're scared of chaos. But if you're helping people send money home cheaper than Western Union? That's real innovation. Mexico's not alone.
Emily Michaelson
November 29, 2025 AT 07:01

The compliance costs are insane. Hiring a full-time CISO and compliance officer for a startup? That's $80k+ just to sit and wait for regulators to catch up. Most founders just offshore or partner with licensed players. It's not laziness - it's survival.
Amanda Cheyne
November 29, 2025 AT 21:32

This is all a setup. The Fed and IMF are pushing this so they can track every single transaction. They don't want you to have freedom. They want your data. The digital peso? It's not a currency. It's a surveillance tool. And they're testing it on Mexico first. Mark my words.
Anne Jackson
December 1, 2025 AT 17:44

If you're using crypto to avoid taxes, you're a criminal. Mexico isn't the problem - people who think they're clever by hiding behind P2P apps are. I'm proud of their stance. No more loopholes. No more 'gray zones'. If you want to play in finance, play by the rules. Or get out.
David Hardy
December 2, 2025 AT 11:42

Honestly? I'm just here for the memes. But also... if my abuela can send me pesos via crypto instead of waiting 3 days for Western Union? I'm all in. 😎 Let the regulators figure it out. The people already did.
Matthew Prickett
December 4, 2025 AT 10:54

They shut down three platforms in 2023? Yeah, but did you know the FIU had inside help? The same people who run the banks are the ones who own the offshore exchanges. This isn't about law. It's about control. And the people who really benefit? They're already laughing.
Caren Potgieter
December 5, 2025 AT 06:09

I live in Cape Town and we got the same vibes here. Crypto's legal but no one wants to touch it. I use it to pay my cleaner because she hates bank fees. No one's reporting us. But I keep receipts anyway. Better safe than sorry 😊
Linda English
December 5, 2025 AT 11:47

I think it's important to recognize that while the regulatory framework may feel outdated or restrictive, it's rooted in a genuine desire to protect vulnerable populations from predatory financial practices. Many individuals, particularly those without access to traditional banking, are easily exploited by unregulated crypto schemes that promise high returns but deliver nothing. The intention behind the law is not to stifle innovation, but to ensure that innovation doesn't come at the cost of economic security for those who can least afford it. We must balance progress with protection, and I believe Mexico is trying to do exactly that-even if the path feels slow.
asher malik
December 7, 2025 AT 07:26

The real question isn't whether crypto is legal-it's whether the state should be in the business of deciding what money is. If I want to trade USDT for tacos, why does the government need to approve it? Money has always been a social contract. Now it's becoming a bureaucratic one. And that's... sad. We're replacing trust in networks with trust in forms.
Jane A
December 7, 2025 AT 18:46

You think this is bad? Wait till you see the crackdowns next year. People are gonna get arrested for using crypto to pay rent. And they'll deserve it. This isn't a game. It's money laundering waiting to happen.
Jody Veitch
December 8, 2025 AT 01:15

The Fintech Law 2.0 proposals are laughably inadequate. You don't fix a broken system by slapping on a 'VASP license'. You need a complete overhaul-tokenized securities, decentralized identity, on-chain KYC. What Mexico is proposing is just rebranding the same old bureaucracy with crypto buzzwords. Pathetic.
Dave Sorrell
December 8, 2025 AT 12:04

For businesses accepting crypto: always document the transaction ID, wallet addresses, and customer ID. Even if you think no one is watching, the FIU can trace every single transfer. Keep records for five years. It’s not optional. It’s the law.
Sky Sky Report blog
December 9, 2025 AT 03:56

The digital peso pilot is the only real path forward. Crypto isn't the solution. A state-backed digital currency is. It gives the unbanked access without exposing them to volatility or scams. Let the private sector innovate around that-not replace it.
stuart white
December 10, 2025 AT 05:48

You know what’s wild? People think Mexico is behind. But they’re actually ahead. The U.S. still can’t decide if crypto is a commodity or a security. Mexico just said ‘nope, not today’ and moved on. Sometimes restraint is wisdom.
John Borwick
December 10, 2025 AT 22:32

I’ve worked with fintechs in Nigeria and Kenya. The real win isn’t crypto-it’s mobile money. People don’t need blockchain to send money. They need a phone and a simple app. Mexico’s focus on digital pesos? That’s the real inclusion play. Crypto’s just noise.
Jennifer MacLeod
December 11, 2025 AT 06:41

I use crypto to pay my freelance designer in Colombia. We both save on fees. No bank involved. No one’s coming for us. Maybe the law will catch up. Maybe it won’t. Either way, we’re not hurting anyone.
Omkar Rane
December 11, 2025 AT 15:11

I live in India and we have same problem. Govt says crypto is legal but banks wont let you link your account. So we use p2p apps and hope for the best. But here in Mexico you at least have a clear law. In India its just chaos. No one knows what to do. So I respect mexican system even if its strict
Daryl Chew
December 13, 2025 AT 13:57

They’re using this to build a digital ID system. Once they track your crypto, they’ll track your groceries, your medicine, your votes. This isn’t regulation. It’s the first step to a total surveillance state. The digital peso is the Trojan horse. Don’t be fooled.
Tyler Boyle
December 14, 2025 AT 05:00

You’re all missing the point. The Fintech Law was never about crypto. It was about centralizing financial power. By making compliance so expensive, they’re forcing innovation into the hands of a few corporate giants-Nu, Mercado Pago, etc. The little guys? They’re being squeezed out. This isn’t regulation. It’s corporate capture disguised as consumer protection.
jocelyn cortez
December 15, 2025 AT 08:47

I work with unbanked communities. Most don’t even know what blockchain is. They just want to send money to their kids without paying 15% in fees. Crypto doesn’t help them. Simple mobile wallets do. Mexico’s focus on that? That’s the real win.
Gus Mitchener
December 17, 2025 AT 06:00

The ontological status of cryptocurrency within the Mexican financial episteme remains ambiguous. It is neither sovereign currency nor commodity in the classical sense, but rather a semiotic token operating outside the monetary paradigm established by Banxico’s fiduciary framework. The regulatory lag is not a failure-it is a necessary hermeneutic pause to prevent epistemic collapse.
Jenny Charland
December 18, 2025 AT 23:43

^^^ I’m not a lawyer but I’m pretty sure that’s just jargon for ‘I don’t know what’s going on’ 😂