Cryptocurrencies
Mexico Warns Against Cryptocurrency Use After Billionaire Pitch
- Banxico says financial institutions can’t trade crypto assets
- Billionaire Salinas said Azteca bank working to accept Bitcoin
This article is for subscribers only.
Mexico’s central bank said financial institutions aren’t allowed to trade or offer services based on cryptocurrencies such as Bitcoin, a day after billionaire Ricardo Salinas Pliego said his bank is on the way to accepting the virtual token.
Carrying out and offering operations with crypto assets without authorization would be seen as a violation of regulations and a company could be subject to sanctions, Banxico, as the central bank is known, said in a joint statement with Mexico’s Finance Ministry and the country’s banking regulator.