Why launch a cryptocurrency in Mexico?

The development of the CryptoEconomy in Latin America is much more than joining a global trend of Decentralized Financial development. Currently, The Central Bank of Mexico recognizes cryptocurrencies as a self-regulated financial application, and does not impose restrictions on their use.

Although the crypto economy in Mexico is not yet part of the government structure, its regulation is only limited to establishing operating rules on the transparency with which the decentralized financial operations are carried out, requesting that those companies that carry out operations with digital tokens, are forced to disclose the characteristics and risks involved in these operations. Being in any case irreversible.

The openness of the government in terms of cryptoeconomy, makes launching a cryptocurrency in Mexico an excellent opportunity for growth. Especially regarding the accelerated development that Decentralized Finance in LATAM are gradually showing.

In 2018, the Central Bank of Mexico created the law to regulate financial technology institutions o Fintech Law, where the Mexican regulation for the use of cryptocurrencies and the financial system is issued. This document determines that traditional financial institutions cannot transfer the application of the crypto economy to end users, that is, decentralized finance and the central economy operate independently of each other.

This also means that the launch of a new cryptocurrency in Mexico is not restrictive in the broadest sense, since it grants companies and users total autonomy and free from regulations or fiscal government intrusion.

An element of great advantage for the operation with cryptocurrencies in Mexico, is that cryptocurrency service providers such as exchange platforms can operate with registration before the Tax Administration System, and shield its operations from crimes such as money laundering.

Unlike many other countries, the openness of Mexico to the adoption of cryptocurrencies has a fairly flexible regulatory framework that, in contrast to countries that prohibit cryptocurrencies, or that do not integrate any kind of government regulation; which offers in Mexico one of the LATAM countries with the greatest growth perspective for decentralized finance.

If you want to know more about the launch of a cryptocurrency in Mexico or in which Latin American countries it is advisable to launch a new cryptocurrency, do not feel free to write to us. At The Blue Manakin we are experts in the development and integration of launch strategies for cryptocurrencies.