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Bahamas vs Mexico

Crypto regulation comparison

← Back to map | Bahamas | Mexico
Bahamas

Bahamas

Mexico

Mexico

Legal
Legal

The Bahamas enacted the Digital Assets and Registered Exchanges (DARE) Act in 2020, creating a comprehensive regulatory framework. The SCB oversees digital asset businesses. The Bahamas also launched the Sand Dollar CBDC.

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 No tax
Tax Type Capital gains
Tax Rate 0%
Tax Rate 1.92-35%
Exchanges Yes Yes
Exchanges Yes Yes
Mining No No
Mining Yes Yes
Regulator Securities Commission of the Bahamas (SCB)
Regulator CNBV, Banxico (Bank of Mexico), SHCP
Stablecoin Rules Regulated under DARE Act 2024; algorithmic stablecoins banned
Stablecoin Rules Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Key Points
  • DARE Act (2020) provides comprehensive regulation for digital assets and exchanges
  • Securities Commission of the Bahamas licenses and supervises digital asset businesses
  • No income tax, capital gains tax, or crypto-specific taxes
  • Sand Dollar CBDC launched in 2020 as one of the world's first
  • FTX collapse in 2022 led to enhanced scrutiny and regulatory updates
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