Mexico:
Chamber Of Deputies Approves The Financial Technology Institutions Law (Ley de Instituciones de Tecnología Financiera) ("Fintech Law")
05 March 2018
Basham, Ringe y Correa, S.C.
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On March 1st, 2018, the Chamber of Deputies, sitting en banc,
approved by majority the bill of the Financial Technology
Institutions Law (Ley de Instituciones de Tecnología
Financiera) ("Fintech Law"), and remitted the bill to the
federal Executive branch in order to be published in the Federal
Official Gazette (Diario Oficial de la Federación). The new
law, proposes, among others, the use of cryptocurrencies with the
previous authorization of the Central Bank of Mexico (Banco de
México). The Fintech Law stems from an initiative of the
federal Executive branch sent to the Senate on October 10, 2017,
which was approved on December 5, 2017.
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