The use of cryptocurrency in Mexico is currently unregulated, but not illegal. The country's central bank, Banco de México, has issued several warnings about the risks associated with cryptocurrencies, but it has not imposed any restrictions on their use. However, in March 2018, the Mexican Finance Ministry released a statement declaring that cryptocurrencies are not legal tender and that transactions made with them are not protected by any government-backed insurance.
In a more recent development, the Mexican Senate held a legislative debate in December 2021 to discuss the possibility of regulating cryptocurrencies. During the debate, Senator Indira Kempis Martinez emphasized the importance of regulating cryptocurrencies to prevent illicit activities and protect consumers. However, no concrete regulatory framework has been established yet.
"The regulation of virtual assets is a matter of national security and a tool to prevent illicit activities. It is also a way to protect users and promote financial innovation." — Senator Indira Kempis Martinez, December 2021
In summary, while cryptocurrencies are not currently illegal in Mexico, their use is not regulated and not protected by government insurance. The Mexican government has expressed its intention to regulate cryptocurrencies in the future, but no concrete regulations have been implemented yet.
Source:
Banco de México Cryptocurrency Warning
Mexican Senate Legislative Debate on Cryptocurrency Regulation
Last updated: 08-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
