Anti-money laundering law considers the exchange of virtual assets as a vulnerable activity.

As a result of the entry into force of the Law to Regulate Financial Technology Institutions (Fintech Law), on September 9th of this year, the new subsection XVI of Article 17 of the Federal Law for the Prevention and Identification of Operations with Illicit Resources, better known as Anti-Money Laundering Law, entered into force.

By virtue of this addition, the exchange of virtual assets will be considered as a vulnerable activity regarding money laundering.  Virtual assets are understood as the set of data stored in computer media that can be transmitted electronically which, without being legal tender in any jurisdiction, is used as a means of exchange or unit of account to carry out commercial or economic transactions, as well as to make payments.

In this regard, those who carry out transactions of purchase or sale of virtual assets, shall file notice to the Tax Authorities regarding each transaction performed by each client for an amount equal to or greater than 645 UMAs (approximately $54,496 MXN).

Should you have concern regarding the amendment to the anti-money laundering law that considers virtual assets as a vulnerable activity, or require our assistance, please do not hesitate to contact us.


Andrés Urquidi

Jimena Faci

The above is provided as general information prepared by professionals with regard to the subject matter. This document only refers to the applicable law in Mexico. While every effort has been made to ensure accuracy, no responsibility can be accepted for errors or omissions. The information contained herein should not be relied on as legal, accounting or professional advice being rendered.