According the a new law which called “The Fintech Law” financial organizations and banks would have to receive authorization from the Mexican Central Bank in order to operate and use virtual assets. As for taxes, there is no specific tax regulation issued for Cryptocurrencies, therefore, the corresponding tax impact should be analyzed on an individual case basis. Crypto is not VAT exempt, therefore any transfer from a Mexican citizen to another Mexican citizen will be obligated to 16% VAT.