Mexico’s Central Bank Says ‘No Hurry’ on Crypto as Stablecoin Risks Loom
As financial capitals worldwide from London to Singapore race to introduce regulations to introduce digital assets into their banking systems, Mexico’s central bank announced a far more cautious stance.
In its year-end report, boasting the stability of the country’s economy, the Bank of Mexico (Banxico) said it will “maintain a healthy distance between virtual assets and its financial system”.
Banks and fintech firms in Mexico have been barred from offering crypto to customers since 2021.
Many developing and emerging economies also maintain restrictive approaches to crypto compared with the U.S. and Europe, with China and Nigeria being prominent examples. The Chainalysis report notes that regions with less regulatory clarity tend…
