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Dominican Republic vs Mexico

Crypto regulation comparison

← Back to map | Dominican Republic | Mexico
Dominican Republic

Dominican Republic

Mexico

Mexico

Restricted
Legal

The Dominican Republic has no specific cryptocurrency legislation. The central bank (BCRD) issued statements in 2017 and 2021 warning that crypto is not legal tender and prohibiting regulated financial institutions from dealing in digital assets under Monetary Law No. 183-02. Individual use is not criminalized but operates in a restricted gray area.

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 Unclear
Tax Type Capital gains
Tax Rate N/A
Tax Rate 1.92-35%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central de la República Dominicana (BCRD), SIMV
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 exists
  • BCRD prohibits regulated financial institutions from dealing in crypto
  • Crypto is not recognized as legal tender
  • No licensing framework for crypto exchanges
  • Crypto gains treated as taxable income when converted to Dominican pesos
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