April 17th, 2023 / International Bar Association / Finance and Banking / Miguel Gallardo
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BGBG in collaboration with the International Bar Association Banking Law Committee developed the Mexico chapter of the report Fintech: how is the world shaping the financial innovation industry?
This report provides an overview of the financial technology (fintech) regulatory frameworks of 39 jurisdictions across Africa, Asia Pacific, Europe, North America and South America. The report, titled Fintech: how is the world shaping the financial innovation industry?, addresses how different regulators around the world are dealing with the application of technology and innovation to banking and financial services as well as society’s present concerns.
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New IBA report outlines fintech regulatory frameworks of 39 jurisdictions across the world.
Contents of the Mexico chapter developed by BGBG.
1. Fintech regulatory framework: a summary of the most relevant laws and regulations concerning fintech and financial innovation.
2. Regulations on crypto assets: a summary of the legal framework regarding crypto assets and how they are regulated.
- The Tax Administration Service and virtual assets
- Ruling 4/2019 on General Provisions applicable to Credit Institutions and Financial Technology Institutions in Transactions with Virtual Assets
3. Payment service providers and digital wallets: a summary of regulations applying to payment service providers and/or digital wallets.
4. Special support to fintechs: a description of special programmes supporting the fintech ecosystem, fintech startups (eg, regulatory sandboxes and accelerator programmes) and regulations regarding special support.
5. Open banking: a summary of regulations regarding open banking and direct or indirect regulations that affect open banking.
Consult the entire development of the chapter on page 207 of the report.
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