Mexico: Cryptoactive operations monitoring mechanism is activated

On February 3, the special mechanism to track operations carried out with cryptocurrencies or cryptocurrencies was activated in Mexico, he said Cointelegraph.

In this way, crypto exchange platforms must register on the Money Laundering Prevention Portal (SPPLD) the extraordinary movements that their users make with these virtual assets, according to Santiago Nieto, head of the Financial Intelligence Unit (UIF) ).

With the implementation of this new system, it is expected that the FIU can identify the owners and users of crypto exchange platforms that operate in Mexico, these companies should notify when they witness any unusual or suspicious operation with cryptocurrencies.

This new mechanism is part of the provisions of the Law to Regulate Financial Technology Institutions (FinTech Law) passed last year. It is also aligned with the international efforts of the offend to prevent money laundering through the use of cryptocurrencies.

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Adolfo Morán
Adolfo is Founder and Executive Director of Lawgic Tec, a nonprofit association dedicated to research on issues of law and new technologies. General Editor of The Crypto Legal web platform and Legal Consultant in the Financial Regulation and FinTech area of ​​EY Law. He specializes in Blockchain, Smart contracts and Fintech. Email:


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