Mexico vs Turkmenistan
Crypto regulation comparison
Mexico
Turkmenistan
Legal
Legal
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.
Turkmenistan enacted the Law on Virtual Assets effective January 2026, legalizing crypto exchanges and mining under Central Bank licensing. Crypto is treated as property, not legal tender.
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 Turkmenistan
Stablecoin Rules
Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Stablecoin Rules
Regulated under Virtual Assets Law
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
- Law on Virtual Assets enacted November 2025, effective January 2026
- Crypto exchanges and mining require Central Bank licensing
- Crypto treated as property, not legal tender
- Banks prohibited from directly providing crypto services
- Low electricity costs attract mining operations