Grenada vs Mexico
Crypto regulation comparison
Grenada
Mexico
No Regulation
Legal
Grenada has no specific cryptocurrency legislation. No income or capital gains tax. ECCB provides regional monetary oversight.
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
Eastern Caribbean Central Bank (ECCB)
Regulator
CNBV, Banxico (Bank of Mexico), SHCP
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Key Points
- No specific cryptocurrency legislation
- No income or capital gains tax
- ECCB provides regional monetary oversight
- Limited crypto adoption
- No licensing framework for crypto services
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