The normal banking sector is lagging within the race with crypto.
Mexico's Monetary Intelligence Unit not too long ago printed the result of its 2d Nationwide Chance Evaluate. The record highlighted that the chance of cash laundering within the banking sector a ways exceeds the issues confronted through fintech firms.
In keeping with El Economista, the so-called “G7 banking” workforce – BBVA, Santander, Citibanamex, Banorte, HSBC, Scotiabank, and Inbursa – famous way more cash laundering in Mexico than Blockchain firms. Brokerage companies, change companies, and banking establishment suppliers also are incorporated within the “prime chance” classification equipped through the record.
Despite the fact that the fintech sector would possibly nonetheless be a spreader for cash laundering and terrorism financing, the UIF record 2020 does no longer supply a chance classification for the sphere.
Right through the digital convention in August, an reliable from UNIF discussed that crypto does pose a chance of illicit process , and notes that the entity nonetheless considers generation as an “rising chance”.
It must be famous that the Mexican blockchain and monetary generation trade has just about two doubled in dimension in simply two 12 months