In Mexico passed a bill on the regulation of cryptocurrencies

The chamber of deputies of Mexico passed a bill aimed at regulation of industry Finance, including cryptocurrency. The bill was approved by the lower house last Thursday and is currently awaiting the signature of the President of Mexico, Enrique peña Nieto (Enrique Pena Nieto), after which it will enter into force as law.

This latest legislative step follows the previous approval of the Senate of the country in December 2017, which cleared the way for a bill aimed at introducing certainty in the legal status of the cryptocurrency, and to prevent the use of technology in fraudulent transactions and money laundering.

The bill establishes that cryptocurrencies are not legal tender in Mexico, which corresponds to the position
the Central Bank of the country, marked in the middle of last year. The President of the Bank of Mexico, Agustin Carstens (Agustin Carstens) said that bitcoin should be viewed as a commodity and not as currency.

The bill also seeks to shift
control over the work of the cryptocurrency exchanges on the country’s Central Bank. The Reuters story noted that the bill is drafted in General terms, will be developed further by other financial regulators such as securities Commission of Mexico, the Central Bank and the Ministry of Finance.

It is expected that these changes will lead to the adoption of rules regarding the collection of funds through cryptocurrencies. This step also is to be expected — in December last year, the regulator of stock market of Mexico warned that the ICO and cryptocurrencies are risky.

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