The secondary dispositions that they regulate the law Mexican Fintech they will take effect next Monday September 10 he gave this Friday the president information about the National Banking and Valores Commission of Mexico ( CNBV ) Bernardo González.
Even though not yet they approve the general dispositions on the criptomonedas, considered for the Ley Fintech as virtual assets, regulations right now approved against money laundering, electronic payments and collective revenues, the fact that they take effect this Monday September 10 affect the handling of virtual assets indirectly. The general dispositions that will govern the virtual assets, in charge of the Mexican Bank, will have to be published in the third and last group of laws before March 10, 2019.
The regulations of Financial Tecnología's Institutions ( ITF ) on the subject of prevention of washing of money and from financing comprise the first one belonging to the three sections of the dispositions to be published to terrorism ( PLD/FT ). So much the industry fintech like the ecosystem that operates with criptomonedas they have recognized the need of the adoption of policies in which they favor the PLD/TF.
However, in the eraser descargable of those dispositions, it are detailed measures that they can consider themselves strictter of whatever is needed and that they can run against the financial inclusion or they can limit the reach of the benefits of the new law. For example, between the requirements demanded from an ITF stipulates itself that, when a customer establishes a contract or accomplishes an operation from an intelligent telephone, it will have to ask for itself and getting out the geolocalization of the movable device.
Article 11.- the ITF are required to integrate a file for each of their Customers at the moment of the celebration of contracts, rendering of services and realization of activities or Operations, for the purpose of identifying them completely.
They will have to require in order to integrate the file to that the previous paragraph, the ITF are referred and getting out the geolocalization of the movable device which the Customer opens his account from or formalizes the contract from, in your case of your Customers.
Relative preliminary plan of Disposiciones to the Article 58 of the Ley Fintech
Federal improving Regulatory Mexican Commission
With regard to this matter, the Asociación Fintech Mexico, in one of the comments that you published when the eraser of those dispositions was public consultation submittedly, considers than:
The obligation to obtain the customers's geolocalization should not be absolute. The beginning of technological neutrality finds in the Fairly Good Law Para Financial Tecnología's Institutions containedly and they considered that the present-day wording of the Dispositions goes in opposing view of the same, every time that you generate an indirect prohibition to use means that do not enable users' geolocalization to hire the ITF's services. This prohibition would be particularly noxious for the efforts of carrying financial services to juvenile people financial resources that traditionally have less access to movable advanced devices.
Association Mexican Fintech
On the other hand, the requirements to the ITF of applying policies to know his customers should be flexible depending on the customers's profile, indicate Eduardo Guraieb, director of the association Fintech Mexico. The executive holds that they should not demand to themselves the same precautions to customers that they make big transactions than to customers of low risk that they right now are properly identified, for example, through their banking accounts,
Although the Mexican Bank has still six months to elect and announcing which ones criptomonedas that will have permission to be commercialized by the money-exchanges office in Mexico, and publishing the respective regulations, the dispositions in use as from this Monday will affect the handling of those virtual assets, as to that they will be banked by the same measures of the electronic payments and the operations of collective financing, because these have come true predominantly with tokens's use like means of interchange.
On the other hand, according to another Fintech Mexico's comment, it is necessary to recognize the existence of the degrees of risk in the operations with virtual assets, cash and international transferences. That association requests that the request limit itself from an interview to potential high-risk customers only. “It should not be determined than exists an implicit risk for the simple fact of operating with cash, virtual assets or international transferences. Specifically, establishing that all operations with virtual assets are he threatens the principles of technological neutrality of high risk and generate unfounded discrimination against the companies that operate with the same ”, Fintech Mexico points fingers.
An important reaction of criptoactivos's ecosystem, once the dispositions that will give validity as from this Monday to the Ley Fintech's great part, that one will drink like person giving a reference at the region to encourage the regulations in the rest of the Latin American countries are known to detail is expected.
