Mexico -- Custody Regulations Regulatory Overview

Mexico lacks specific cryptocurrency/digital asset custody regulations, including no dedicated custodial licenses, qualified custodian definitions, segregation rules, insurance/bonding requirements, or cold storage mandates. Non-financial entities can provide custody services without a specific license, subject only to anti-money laundering (AML) obligations, while regulated financial institutions (e.g., banks, fintechs) are prohibited from offering direct custody to clients.[1][2][6]

Custodial License Requirements

No specific licensing is required for non-financial entities acting as crypto custodians or exchanges.[2][4][5] Financial institutions need prior Banco de México (Banxico) authorization for internal virtual asset operations but cannot offer custody, exchange, or transfer services directly to clients.[1][2][6]

Segregation of Client Assets Rules

No explicit rules exist for segregating client assets in crypto custody.[1][2]

Insurance/Bonding Requirements

No regulations mandate insurance or bonding for crypto custodians.[1][2]

Cold Storage Mandates

No requirements for cold storage or specific security practices.[1][2]

Qualified Custodian Definitions

No definition of "qualified custodians" for digital assets.[1][2]

Key Regulatory Authorities and Frameworks

• Banxico: Regulates virtual assets for financial institutions; authorizes internal operations but bans client-facing custody.[1][2][3][6]
• CNBV: Supervises financial institutions' compliance.[1][3]
• AML/CTF Law (Ley Federal para la Prevención e Identificación de Operaciones con Recursos de Procedencia Ilícita): Classifies virtual asset operations by non-financial entities as vulnerable activities, requiring KYC, internal policies, transaction monitoring, and reporting to the Financial Intelligence Unit (FIU) for transactions over ~$58,000 MXN (645 UMAs) per client in six months.[3][4][5]
• Fintech Law (Ley para Regular las Instituciones de Tecnología Financiera): Defines virtual assets and grants Banxico regulatory powers but excludes non-financial custody from licensing.[4][5][6]

Pending Legislation

Search results (current as of 2026) report no pending specific custody legislation; the framework remains unchanged, with Banxico holding broad powers and a potential CBDC noted (launched or planned post-2024, details unavailable).[2][4] Cryptoassets are legal but not legal tender, treated as intangible movable assets.[2][4]