Mexico:
Senate Approves The Financial Technology Institutions Law (Ley De Instituciones De Tecnología Financiera) ("Fintech Law")
11 December 2017
Basham, Ringe y Correa, S.C.
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On December 5, 2017, the Senate sitting en banc
unanimously approved the bill of the Financial Technology
Institutions Law (Ley de Instituciones de Tecnología
Financiera) ("Fintech Law"), which was remitted to
the Chamber of Deputies for analysis and final approval. It
should be noted that the Senate made certain amendments to the
original proposal and the most notable change is the removal of
Virtual Assets Management Institutions as Financial Technology
Institution and the greater emphasis given in the fact that the
Central Bank of Mexico will define the requirements for using
Virtual Assets. It is estimated that the Chamber of Deputies
will pass the Financial Technology Institutions Law during the
first semester of 2018.
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