Mexican FinTech Law
Over the last few years, the financial services industry in Mexico has experienced innovation and disruption with the emergence of financial technologies.
The initiative for the establishment of the sandbox follows the publication in January 2019 of the ESAs Report on FinTech: Regulatory sandboxes and innovation hubs setting out a comparative analysis of existing innovation facilitators and best practices for the design and operation thereof.
In light of the indications provided in this Report, a regulatory sandbox consists of a test area for innovative FinTech initiatives where the possibility of a cooperative dialogue with the regulators and flexibility in the application of the existing legislation is ensured.
