Mexico's fintech industry is pushing for reforms under the "Fintech 2.0 Act," which aims to clarify regulatory rules for crypto assets.

CoinFeed reported on June 16th, citing La Política Online, that Mexico's fintech industry is seeking reforms to the "Fintech 2.0 Act" under the leadership of Ángel Cabrera, the new head of the National Bank and Securities Commission of Mexico (CNBV). The industry believes the Fintech Law passed in 2018 is no longer keeping pace with innovation, leading to bottlenecks in the approval process and necessitating clearer and more flexible regulatory standards. Key demands include expedited authorization processes, implementation of tiered risk management, conditional authorization, and comprehensive regulation of open financial models. Regarding crypto assets, Mexican financial authorities currently maintain restrictions on such instruments, despite the continued growth of the global crypto market. The industry is seeking progress in crypto asset regulation, hoping to establish clearer rules.