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Belgium vs Mexico

Crypto regulation comparison

← Back to map | Belgium | Mexico
Belgium

Belgium

Mexico

Mexico

Legal
Legal

Cryptocurrency is legal in Belgium and regulated under the EU's MiCA framework. Tax treatment depends on whether gains are considered normal management of private assets (tax-free), speculative (33% misc income), or professional income (progressive rates). The FSMA has banned distribution of crypto derivatives to consumers.

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 Varies
Tax Type Capital gains
Tax Rate 0-33%
Tax Rate 1.92-35%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator FSMA (Financial Services and Markets Authority)
Regulator CNBV, Banxico (Bank of Mexico), SHCP
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Key Points
  • Tax treatment depends on classification: normal portfolio management (0%), speculation (33%), or professional (up to 50%)
  • FSMA banned advertising of crypto derivatives and certain crypto products to consumers in 2022
  • VASPs must register with FSMA and comply with AML/KYC requirements
  • MiCA regulation fully applicable from December 2024
  • Belgium has a relatively active crypto community and blockchain ecosystem
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