In Mexico, the Inter institutional Committee of the National Banking and Securities Commission was established to coordinate the activities of various bodies. The norms and standards set by the regulators follow a uniform approach and do not contradict each other.
Definiteness of Legal Regulation
Special legislation covers the operation of ICOs, crypto-wallets and crypto-exchanges. Some of the legal relationships associated with cryptocurrencies and blockchain remain unregulated: mining of cryptocurrencies, legal relations connected with document flow based on blockchain and smart contracts, as well as taxation in the crypto-industry.
Stability of Legal Regulation
The past year saw the active development of new rules for crypto-business; and special legislation was adopted. Currently, there are no legislative initiatives or court cases in Mexico that may alter the legal environment and, therefore, there are no reliable grounds to assume that the direction chosen by the regulators will change in the medium term.
Adequacy of Legal Regulation
Although Mexico has special legislation in place, it does not account for the specifics of cryptocurrency projects and is restrictive in nature, prohibiting activities that are integral to the operation of crypto-exchanges, crypto-wallets, and ICOs.