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Mexico vs Pakistan

Crypto regulation comparison

← Back to map | Mexico | Pakistan
Mexico

Mexico

Pakistan

Pakistan

Legal
Restricted

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.

Pakistan has a hostile regulatory environment for cryptocurrency. The State Bank of Pakistan has prohibited financial institutions from facilitating crypto transactions, and the government has considered outright bans. Despite this, Pakistan has high informal crypto adoption, ranking among the top countries for P2P crypto volume. The SECP has explored blockchain regulation but no licensing framework exists for exchanges.

Tax Type Capital gains
Tax Type None
Tax Rate 1.92-35%
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator CNBV, Banxico (Bank of Mexico), SHCP
Regulator SBP (State Bank of Pakistan), SECP
Stablecoin Rules Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Stablecoin Rules No regulation; SBP has not authorized any crypto activities
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
Key Points
  • SBP prohibits banks and financial institutions from processing crypto transactions
  • No licensing framework for crypto exchanges; operating informally is risky
  • High P2P crypto adoption despite regulatory hostility
  • Government has considered formal banning legislation multiple times
  • SECP has explored digital asset regulation but no framework enacted
Sources
Sources