If there is one thing that Mexicans are known for the best then that would be their eccentric line of fashion hats, sombreros, however, noon Siesta breaks and mastery in brewing alcoholic beverages out of cactuses is definitely on that list as well. Digital currencies have been a hot topic of discussion in the Mexican news, mainly due to its recent price gains but there has been some legislation buzz mixed in. Keep reading to find out what are some of the current bitcoin regulations in Mexico, alongside a few BTC exchanges that serve Mexican citizens and to sweeten the pot a little bit more we are going to discuss online gambling regulations.
Bitcoin Regulations in Mexico
Bitcoin is not regulated in Mexico as yet. A bill that aims to protect customers against fraudulent exchanges and make money laundering activities using digital currencies harder is already drafted up and set in motion but the exact laws are rather vague. It sounds like Mexico is about to join a list of governments that have bitcoin regulated but it will most likely be another KYC type of legislation. Positive regulations are definitely good for the prosperity of digital currencies.
Mexican Bitcoin Exchanges
There are multiple ways for Mexican citizens to acquire bitcoin and one of the easiest is doing it through popular exchanges such as Bitso or CEX. CoinMama is a popular bitcoin exchange that accepts credit card payments and supports the Mexican region. You could also check for the nearest BTC ATM machine next to your home. Find a list of functioning BTC ATM spots at CoinATMRadar.com VirWox is a good exchange that sells bitcoin for PayPal but requires personal verification. You could also buy or sell bitcoin without any personal verification using Peer-to-Peer BTC exchange platforms such as LocalBitcoins and Paxful. Make sure that you always trade with a 100% clean history seller and never release escrow without receiving your bitcoin first. Be extra cautious and report any user who is trying to get you out of escrow to complete the trade.
Online Gambling in Mexico
Online gambling laws are not too favorable for Mexican citizens. The government had issued a small number of online licenses with a catch that they only serviced foreigners living in Mexico. At the same time, offshore bookies were not restricted from offering gambling services to the Mexicans so the selection is humongous. Check out our trusted and anonymous bitcoin sportsbook reviews for finding the best bookie online!