The Currency Analytics
By Maheen Hernandez
Cryptocurrency related provisions were published via a circular from Banxico (Bank of Mexico), the central bank of Mexico.
Tomas Alvarez, CEO of Volabit, a Cryptocurrency Exchange stated, “This Essentially stipulated that they wouldn’t authorize any cryptocurrency to be offered by regulated financial…
Alvarez further added, “A year ago a law to regulate Fintech companies was passed by the Mexican Congress.
“The deadline was due to expire this month so last Friday Bank of Mexico published their secondary laws which essentially stipulated that they wouldn’t authorize any…
This is considered to be a Catch-22 situation because according to these rules any financial service that is not regulated is illegal.
Officially, this law is currently live and in effect ever since it was published. This applies only to Fintech companies; however, there are no Fintech companies in existence so…
There is a special waiver for Fintech companies that are operating in Mexico until the registration process is in place, therefore providing companies with six months breathing…
Bin Ren, CEO of Elwood recently stated “An ETF gives a highly liquid and regulated way to gain exposure. This is the right point to start.
Alan Howard, the British Billionaire, will be investing a hedge fund that he owns into blockchain and digital assets.
Previously, Meaningful exposure to digital assets was to buy the Bitcoin; however, several of them were reluctant to buy the Bitcoin for a good reason, which is due to low…