The adoption of blockchain technology and asset tokenization is advancing at a rapid pace, but the real engine driving its global development is the existence of a clear, consistent and innovation-friendly legal framework that provides legal certainty, encourages investment and lowers barriers to entry for new projects.
Some countries have already established themselves as regulatory benchmarks, establishing specific rules for cryptoassets, DLT infrastructures and token issuance with legal backing. In this article we show you relevant information about blockchain regulation in Mexico, which you can use as a guide if you are looking to operate internationally or evaluate different strategic locations.
Current legislation on blockchain and virtual assets in Mexico
Fintech Law
The Law to Regulate Financial Technology Institutions, known as the Fintech Law, enacted in 2018, is the key rule regulating virtual assets in Mexico. It defines the conditions under which Financial Technology Institutions (ITFs) authorized by the CNBV can operate with virtual assets within the regulated financial system. It requires prior authorization, AML/KYC compliance controls, and reserves to Banxico the determination of which virtual assets are allowed for use in the financial system.
In summary, the Fintech Law establishes a regulated and supervised environment for the operation of virtual assets in Mexico, prioritizing user protection and the integrity of the financial system, and reserving to Banxico the central role in the authorization and supervision of these digital instruments.
Banxico’s Provisions on virtual assets (Circular 4/2019)
Banxico has issued secondary provisions, such as Circular 4/2019, which regulate the operation of virtual assets in Mexico. These provisions expressly prohibit FTTs from offering exchange, transmission or custody services of virtual assets to their clients. They only allow the internal use of virtual assets within the institution’s own operations, with prior authorization from Banxico. As of May 2026, Banxico has not publicly granted any authorization under this circular, nor has it published a list of approved virtual assets, which in practice significantly limits crypto operations within the regulated financial system, in order to protect consumers and mitigate systemic risks.
Federal Law for the Prevention and Identification of Operations with Illicit Proceeds of Crime
This law imposes AML obligations on parties dealing with virtual assets, including exchanges and custodians. They must register, implement robust money laundering prevention programs, apply KYC procedures and report suspicious transactions to the FIU and SAT. Mexico has progressively strengthened these controls in line with FATF standards. The Federal Law for the Prevention and Identification of Operations with Illicit Proceeds has been subject to successive regulatory updates aimed at including activities with virtual assets as vulnerable activities subject to reporting.
CNBV’s Fintech Regulatory Sandbox
The regulatory sandbox, managed by the CNBV, allows fintech and blockchain companies to test innovative models under a controlled environment. It provides a flexible framework for evaluating tokenization projects, stablecoins and new DeFi solutions, ensuring that they comply with the principles of user protection and financial stability before they are commercialized on a large scale.
Tokenization makes it possible to digitally represent real-world assets through blockchain, but for it to have legal value, it is essential that there is a regulatory framework that recognizes this operation. Mexico adopts its own approach, establishing specific rules for the issuance, custody or trading of tokens. In this block we explain how asset tokenization is regulated from a legal point of view, taking an advanced jurisdiction such as Mexico as an example.
Regulation of asset tokenization in Mexico
The regulation of asset tokenization in Mexico is mainly based on the Fintech Law, Banxico’s provisions and the money laundering prevention framework. The tokenization of financial assets, such as debt or equity securities, is subject to the Securities Market Law and the supervision of the CNBV. These activities require authorization as a financial institution or broker-dealer, and must comply with disclosure, solvency, and investor protection requirements.
For the tokenization of non-financial assets, such as real estate, art or commodities, there is still no specific regulation. However, these projects are structured under Mexican private law and must comply with applicable civil, tax and commercial regulations. Blockchain records may have evidentiary value in private disputes under the general framework of Mexican civil and commercial law, although there is no express and specific legal recognition for DLT records in the current legislation. Although there is still no specific regulation for real estate tokenization or for stablecoins in Mexican pesos, regulatory interest in these matters is growing in the Latin American context.
In addition, several FTTs and banks are exploring tokenization solutions within the CNBV’s regulatory sandbox. These initiatives seek to boost financial innovation and attract international investment, in a context of growing interest in tokenized assets in Latin America.
Blockchain regulation in Mexico is advancing steadily, providing a legal framework that, although still under development, already allows operating with digital assets under certain conditions. The Fintech Law establishes clear guidelines for entities wishing to offer services related to blockchain technology, including real possibilities for tokenization projects. Although there are areas that require further regulatory definition, the current environment allows for innovation with legal certainty. Mexico is emerging as a jurisdiction that is increasingly open to business models based on distributed registries, and a regulatory evolution is expected to consolidate these opportunities.
Regulatory agencies and authorities for digital assets in Mexico
National Banking and Securities Commission (CNBV)
The CNBV is the primary regulator for financial technology institutions (FTIs) authorized under the Fintech Law. It oversees operations with permitted virtual assets, authorizes Fintech platforms to operate with cryptoassets and establishes prudential and governance requirements. It also coordinates pilot projects in the regulatory sandbox.
Bank of Mexico (Banxico)
Banxico regulates the operational use of virtual assets by FTTs. Determines which cryptoassets can be used and under what conditions. Publishes secondary provisions to limit the use of virtual assets as a means of payment and protect financial stability. Participates in the development of a possible central bank digital currency(CBDC) for Mexico.
As of May 2026, Banxico has not publicly granted any authorization under Circular 4/2019, meaning that no regulated financial institution legally offers direct crypto services to the public in Mexico under this framework.
Financial Intelligence Unit (FIU)
The FIU is the national authority for the prevention of money laundering and terrorist financing. It oversees compliance with AML/CFT obligations by virtual asset service providers. It requires robust AML programs, suspicious activity reports and coordination with the SAT.
Tax Administration Service (SAT)
The Tax Administration Service is responsible for the fiscal supervision of income and operations related to virtual assets. It requires crypto platforms to comply with tax obligations, the correct issuance of digital receipts and the declaration of transactions with cryptoassets. In addition, it leads the fiscal control actions coordinated with the UIF and the CNBV.
Inter-institutional coordination on cryptocrime (FGR, UIF, CNBV, SAT)
Investigations into crypto-asset related crimes in Mexico involve coordination between the FGR, the UIF, the CNBV and the SAT within the framework of their respective competencies on money laundering, tax fraud and financial crimes, without there being a formal body specifically for crypto-assets.
Launching a business based on digital assets requires more than just technology: it is also necessary to comply with legal requirements such as licensing, registration and regulatory obligations. These conditions ensure that the business model is viable and sustainable over time, and that it complies with transparency and fraud prevention standards. They also help build investor confidence, establish institutional relationships and facilitate access to banking services or financing.
In the following section we explore what licenses are usually required and what compliance criteria blockchain companies operating in Mexico must follow to avoid legal risks and operate within the current regulatory framework.
What licenses and requirements are needed to operate with cryptoassets in Mexico?
CNBV authorization as a FTT
Companies that want to operate with virtual assets must obtain authorization from the CNBV as a Financial Technology Institution (ITF). This license requires minimum capital requirements, sound governance structure, AML/KYC controls and compliance with the Fintech Law and Banxico provisions.
FTT authorization is mandatory for companies that raise funds in fiat currency, issue payment instruments or perform activities reserved to the regulated financial system. Companies that operate only as cryptoasset exchanges without raising fiat funds may operate legally in Mexico outside the FTT framework, provided they comply with the AML obligations established in the Federal Law for the Prevention and Identification of Operations with Illicit Proceeds. Currently most crypto platforms in Mexico operate under this second model.
Specific approval from Banxico
Although the Fintech Law and Circular 4/2019 state that FTTs must obtain specific approval from Banxico for each cryptoasset, as of May 2026 Banxico has not granted any public authorization under this mechanism, so this requirement is theoretical in current practice.
AML/KYC Compliance
All licensed firms must comply with the AML/KYC obligations set forth in the Federal Law for the Prevention and Identification of Transactions with Illicit Proceeds. This includes rigorous client identification, transaction monitoring, detection of unusual transactions and mandatory reporting to the UIF.
Are you exploring developing your blockchain project in Mexico?
At Metlabs we help companies like yours and offer comprehensive support in the development of blockchain projects and tokenization of assets such as real estate, carbon credits, commodities, intellectual property, financial instruments, franchises and more, fully aligned with blockchain regulation in Mexico and international regulatory standards.
Contact us now, tell us your idea and find out how we can help you meeting all your business model needs, from technical validation and structuring to design, development and implementation of custom blockchain solutions, ready to scale from day one.