Miranda’s Weekly Mex FinTech Monitor

September 04, 2023

Mexico FinTech News

Mexico regulators agree, FinTech regulations must be modernized 

In the first-ever FinTech Week organized by Mexican regulators and Asociación Fintech, Undersecretary of Finance Gabriel Yorio acknowledged that Mexico must update its regulatory policy related to FinTechs, pointing out a grey area in public policy concerning digital assets. However, Yorio cautioned that it was unlikely that new regulations would be passed during the remainder of President López Obrador’s term. Meanwhile, the head of the CNBV, Jesús de la Fuente, recognized that Mexico has great potential to become a regional leader in the FinTech sector due to its disruptive power to accelerate financial inclusion.  

Bloomberg, 08/31/2023, Zenyazen Flores: México inicia ruta para modernizar y reformar regulación Fintech: Gabriel Yorio 

Expansión, 08/28/2023, Luz Elena Marcos Méndez: Banxico advierte retos regulatorios para las FinTech en México 

The Banker, 08/31/2023, Barbara Pianse: Mexico’s fintech law “needs a shake-up” 

Amazon México signs agreement with Sedeco 

Amazon México, the local subsidiary of the US e-commerce giant, has entered into a collaborative agreement with the Secretariat of Economic Development (Sedeco) to support approximately 35,000 small and medium-sized enterprises (SMEs) in Mexico City. The partnership focuses on promoting their engagement in e-commerce and boosting their international expansion efforts. Fadlala Akabani, who heads Sedeco in Mexico City, emphasized that this arrangement narrows technological disparities among economic entities. Amazon México will provide the tools to allow SMEs in Mexico City to sell their products on the Amazon.com.mx platform.