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Argentina vs Mexico

Crypto regulation comparison

← Back to map | Argentina | Mexico
Argentina

Argentina

Mexico

Mexico

Legal
Legal

Cryptocurrency is legal in Argentina and widely adopted due to persistent inflation and currency controls. The CNV regulates crypto service providers under a 2024 registration framework. Argentina has one of the highest crypto adoption rates globally, with stablecoins used as a hedge against peso devaluation.

Mexico regulates cryptocurrency under the 2018 Fintech Law (Ley Fintech), one of Latin America's first comprehensive crypto regulatory frameworks. The CNBV licenses fintech institutions including crypto exchanges. However, Banxico has restricted financial institutions from offering crypto services directly to customers. Crypto gains are taxed as income at progressive rates.

Tax Type Income
Tax Type Capital gains
Tax Rate 5% (peso-denominated) / 15% (foreign currency)
Tax Rate 1.92-35%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CNV (Comisión Nacional de Valores), BCRA
Regulator CNBV, Banxico (Bank of Mexico), SHCP
Stablecoin Rules No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Key Points
  • CNV registered as the regulatory authority for virtual asset service providers (VASPs) under FATF guidelines
  • Crypto gains taxed as income under the income tax law at progressive rates
  • High adoption driven by inflation and capital controls on the Argentine peso
  • Exchanges must register with the CNV and comply with AML/KYC requirements
  • No legal tender status for crypto; the peso remains the only legal tender
Key Points
  • Fintech Law (2018) regulates virtual asset operations through licensed ITFs (Fintech Institutions)
  • CNBV (National Banking and Securities Commission) oversees licensing and compliance
  • Banxico issued rules restricting banks from offering crypto to clients directly
  • Crypto gains taxed as 'other income' (otros ingresos) at progressive rates up to 35%
  • Mexico has high crypto adoption driven by remittances and unbanked population
Sources
Sources