Mexican bitcoin exchange and banks providing cryptocurrency-related services, will be required to obtain official permission of the Central Bank of Mexico (Banxico).

In the letter entitled “General provisions concerning transactions with electronic payment means”, says Banxico is responsible for permits related to cryptocurrency. To obtain such permission companies working with digital currencies, you must provide a detailed business plan with complete description of the operations, planning committees and mechanisms to identify users.

Also, the Central Bank forbade banks to provide users with access to the cryptocurrency in the case that their accounts created on the same day. Financial institutions are required to identify all users involved in trading digital currencies. In addition, any assets derived cryptocurrency beneficiaries, it must pass additional checks. According to Banxico, these measures will help in the fight against money laundering and illegal activities.

It is reported that all financial institutions interested in obtaining permission Banxico, had to submit a request prior to 11 September. However, they can do it in March 2019, when it should be a new cryptocurrency legislation.

Note that an increasing number of countries have tightened their legislation in the field of digital currencies. So, on strengthening of control over the exchanges and ICO has announced the Commission on securities and investments Commission Australia (ASIC). In addition, the plan for the regulation of primary offerings of coins (ICO) has approved the Department for securities and goods United Arab Emirates (SCA).

In August 2017 the odious managing Banxico Agustin Carens said that the regulator does not consider bitcoin a currency, classifying it as a commodity.

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