Mexico’s first female President, Claudia Sheinbaum, is set to continue the cryptocurrency policy established by her predecessor. Under current regulations in Mexico, there is a 20% tax on gains from cryptocurrency and mandatory registration for exchanges to comply with anti-money laundering measures.
Sheinbaum’s recent election as president suggests a potential new era of cryptocurrency regulation in Mexico. As a member of the Morena party and the former mayor of Mexico City, her victory aligns with the approach taken by Andrés Manuel López Obrador’s administration, which aimed to regulate the cryptocurrency market. The regulations put in place by Morena have included implementing a tax on gains and requiring exchanges to adhere to global anti-money laundering standards.
Sheinbaum has demonstrated a positive attitude towards cryptocurrency adoption, introducing the Claudia Coin (CLSP), a meme cryptocurrency built on Ethereum during her campaign. This token was promoted as sustainable, inclusive, and community-focused, aligning with Sheinbaum’s vision for a more equitable, democratic, and sustainable Mexico. The launch of Claudia Coin reflects Sheinbaum’s innovative strategy to incorporate cryptocurrency into her political agenda and potentially lead to increased acceptance and integration of digital currencies in Mexico’s financial and regulatory systems.
If Sheinbaum decides to further embrace digital currencies during her presidency, this could result in the development of more comprehensive laws and guidelines that stabilize the market and attract more investment in the Mexican cryptocurrency market.
