Belize vs Mexico
Crypto regulation comparison
Belize
Mexico
No Regulation
Legal
Belize has no specific cryptocurrency legislation. The central bank has not banned crypto. No capital gains tax exists in Belize.
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
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Belize
Regulator
CNBV, Banxico (Bank of Mexico), SHCP
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Key Points
- No specific cryptocurrency legislation
- Central bank has not banned crypto
- No capital gains tax in Belize
- Limited crypto adoption and infrastructure
- No licensing framework for crypto businesses
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