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Kuwait vs Mexico

Crypto regulation comparison

← Back to map | Kuwait | Mexico
Kuwait

Kuwait

Mexico

Mexico

Restricted
Legal

Kuwait has taken a restrictive approach to cryptocurrency. The Central Bank of Kuwait and the Capital Markets Authority have prohibited banks and financial institutions from processing crypto transactions. There is no licensing framework for crypto exchanges. However, owning crypto is not explicitly illegal, and there is no personal income tax in Kuwait, so no crypto-specific tax applies.

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 None
Tax Type Capital gains
Tax Rate 0%
Tax Rate 1.92-35%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CBK (Central Bank of Kuwait), CMA
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
  • CBK prohibits banks and financial institutions from dealing in virtual currencies
  • No licensing framework exists for crypto exchanges or VASPs
  • Personal ownership of crypto is not explicitly criminalized
  • No personal income or capital gains tax in Kuwait applies to crypto
  • CMA has warned investors about the risks of cryptocurrency
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