Banking & FinanceEnglish

Chamber of Deputies approves the Financial Technology Institutions Law (Ley de Instituciones de Tecnología Financiera) (“Fintech Law”)

Chamber of Deputies approves the Financial Technology Institutions Law (Ley de Instituciones de Tecnología Financiera) (“Fintech Law”)

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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.

 

The lawyers of the financial and securities law area of our firm are available for any questions or comments on the above.

 

 

SINCERELY

 

Miguel Angel Peralta peralta@basham.com.mx
Pedro Said psaid@basham.com.mx
Patrick Seaver pstockdale@basham.com.mx

Mexico City, March 2nd, 2018

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