Mexico vs Vanuatu
Crypto regulation comparison
Mexico
Vanuatu
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.
Vanuatu has become a popular jurisdiction for crypto businesses due to its tax-free environment. The VFSC has developed a regulatory framework for digital assets.
Tax Type
Capital gains
Tax Type
No tax
Tax Rate
1.92-35%
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNBV, Banxico (Bank of Mexico), SHCP
Regulator
Vanuatu Financial Services Commission (VFSC)
Stablecoin Rules
Virtual assets regulated under Fintech Law; Banxico restricts banks from offering crypto to clients
Stablecoin Rules
No specific 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
- VFSC regulates digital asset businesses
- No income, corporate, or capital gains tax
- Popular jurisdiction for crypto business registration
- Citizenship by investment program exists
- Developing digital asset regulatory framework