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Cyprus vs Mexico

Crypto regulation comparison

← Back to map | Cyprus | Mexico
Cyprus

Cyprus

Mexico

Mexico

Legal
Legal

Cyprus regulates crypto under the EU MiCA framework (fully applicable since December 2024). CySEC authorizes crypto-asset service providers (CASPs) while the Central Bank of Cyprus oversees e-money tokens and asset-referenced tokens. Crypto gains from occasional transactions are currently not taxed; active trading is taxed as income at 0-35%. A proposed 8% flat tax on crypto gains is pending parliamentary approval for 2026.

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 0-35% (proposed 8% flat rate from 2026)
Tax Rate 1.92-35%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CySEC, Central Bank of Cyprus
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
  • CySEC authorizes and supervises crypto-asset service providers under MiCA
  • No capital gains tax on crypto for occasional transactions; active trading taxed as income
  • EU MiCA regulation applies as an EU member state
  • AML/CFT requirements enforced for all crypto businesses
  • Proposed 8% flat tax on crypto gains pending parliamentary approval for 2026
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