Mexico's Central Bank Stays Away from Cryptocurrencies

Mexico's Approach to Cryptocurrencies

The Central Bank of Mexico is taking a cautious approach towards digital assets. The bank prefers to keep cryptocurrencies separate from the financial system, staying away from uncertainties in this area.

Since 2021, banks and fintech companies in Mexico have been prohibited from offering cryptocurrencies to their customers. This ban is implemented to maintain stability in the sector and protect users.

The Central Bank of Mexico continues this cautious approach by citing serious concerns such as price volatility of cryptocurrencies, cybersecurity risks, and money laundering.