https://www.reuters.com/article/us-mexico-fintech/mexico-financial-technology-law-passes-final-hurdle-in-congress-idUSKCN1GD6KXMEXICO CITY (Reuters) - Mexico’s lower house of Congress approved a bill to regulate the fast-growing financial technology sector on Thursday, including crowdfunding and cryptocurrency firms, putting it among a small group of countries to establish regulation for the industry.
The bill, which seeks to promote financial stability and prevent money laundering, was approved by Mexico’s Senate in December and now awaits President Enrique Pena Nieto’s signature.
Regulators will soon begin crafting so-called secondary laws, which will determine key details for companies in the sector.
The law will give fintech companies greater regulatory certainty around issues such as crowdfunding, payment methods and rules surrounding cryptocurrencies such as bitcoin.
