Mexico vs Eswatini
Crypto regulation comparison
Mexico
Eswatini
Legal
No Regulation
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.
Eswatini has no specific cryptocurrency regulation. The central bank has cautioned about crypto risks but has not banned it.
Tax Type
Capital gains
Tax Type
None
Tax Rate
1.92-35%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNBV, Banxico (Bank of Mexico), SHCP
Regulator
Central Bank of Eswatini
Stablecoin Rules
Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Stablecoin Rules
No stablecoin regulation
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
- No specific cryptocurrency legislation
- Central bank has cautioned about crypto risks
- Crypto not recognized as legal tender
- Limited crypto adoption
- Part of the Common Monetary Area with South Africa