Liechtenstein vs Mexico
Crypto regulation comparison
Liechtenstein
Mexico
Legal
Legal
Liechtenstein's Blockchain Act (TVTG) effective since 2020 is among the world's most comprehensive crypto frameworks. The FMA supervises registered TT service providers. Adapted for EU MiCAR in 2025.
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
Income
Tax Type
Capital gains
Tax Rate
1-8%
Tax Rate
1.92-35%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Financial Market Authority (FMA)
Regulator
CNBV, Banxico (Bank of Mexico), SHCP
Stablecoin Rules
Regulated under TVTG and MiCAR
Stablecoin Rules
Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Key Points
- Blockchain Act (TVTG) adopted unanimously in 2019, effective Jan 2020
- Token Container Model enables tokenization of any asset or right
- FMA registers and supervises all TT service providers
- EEA MiCAR Implementation Act entered into force Feb 2025
- First country with comprehensive blockchain-specific legislation
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