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Kazakhstan vs Mexico

Crypto regulation comparison

← Back to map | Kazakhstan | Mexico
Kazakhstan

Kazakhstan

Mexico

Mexico

Legal
Legal

Kazakhstan has a dual approach to crypto regulation. The Astana International Financial Centre (AIFC) operates as a regulated sandbox where licensed crypto exchanges can operate under AFSA supervision. Outside the AIFC, crypto regulation is more restrictive. Kazakhstan became a major mining hub after China's ban but has since tightened mining regulations.

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 Capital gains
Tax Type Capital gains
Tax Rate 10%
Tax Rate 1.92-35%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator AFSA (Astana Financial Services Authority), NBK (National Bank of Kazakhstan)
Regulator CNBV, Banxico (Bank of Mexico), SHCP
Stablecoin Rules AIFC (Astana International Financial Centre) has its own framework for digital assets including stablecoins
Stablecoin Rules Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Key Points
  • AIFC provides a regulatory sandbox for licensed crypto exchanges and businesses
  • Mining is legal and licensed, with a specific tax on electricity consumption for miners
  • Kazakhstan became the world's second-largest Bitcoin mining country after China's 2021 ban
  • 2022 mining crackdown introduced stricter licensing and energy consumption taxes
  • Outside AIFC, domestic crypto payments and exchanges face greater restrictions
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