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 and establishes that only Financial Technology Institutions (ITF) authorized by the CNBV may operate. 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 establish that authorized FTTs must have specific approval for each virtual asset. They also limit the use of cryptoassets as a means of payment and prohibit their promotion to the general public, 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 strengthened these controls in line with FATF standards in its 2023 reforms.
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 have legal recognition as documentary evidence in courts, which brings legal certainty to transactions. In 2025, Mexico has initiated public consultations on the creation of specific frameworks for real estate tokenization and Mexican peso-backed stablecoins.
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 that consolidates these opportunities is expected.
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.
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.
Crypto Task Forces (FGR, UIF, CNBV, SAT)
In Mexico, there are joint investigation units for crimes related to crypto-assets, coordinated by the Attorney General’s Office (FGR) together with the UIF, the CNBV and the SAT. These task forces act in cases of money laundering, tax fraud, crypto scams and financial crimes in P2P platforms.
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 this 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?
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. It is the main framework to operate legally in the Mexican market.
Specific approval from Banxico
FTTs that operate with virtual assets need specific approval from Banxico for each cryptoasset. Banxico determines which assets can be used, the operating conditions and limits of use, thus protecting the stability of the financial system. The free use of cryptoassets as a means of payment for the general public is not allowed.
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.