Mexican politicians join the growing club of government regulators wishing to get a handle on Bitcoin (Bitcoin) and financial technology, Bitcoin.com reports.
A bill pending in the Senate “proposes measures to regulate companies operating with virtual currencies like Bitcoin, although it does not provide much detail. “The central bank would be tasked with refereeing such operations,” the document says.
The legislation is a response to Mexico’s financial technology boom.
“This legislation recognizes the need that a sector as dynamic as that of technological innovation needs a regulatory framework that allows authorities to mitigate risks and allow for growth in a competitive environment,” the draft reads.
The new measures will allow Mexico to join a small list of countries, including the United States and Britain that have sought to regulate fintech firms.
The bill will be examined first by an independent commission, and then go to the Senate for a vote.