Brazil and Mexico lead the regulation of the fintech sector in Latin America
Latin America advances in the regulation of fintech companies, with Mexico and Brazil at the top of the pioneer countries
Regulation of the fintech market is a priority for Latin America. Mexico and Brazil stand out as pioneers in this area.
Both nations, one in the north and the other in the south of the continent, are advancing in terms of fintech regulation to offer companies and individuals transparency and security.
In the case of Brazil, the Central Bank is in charge of creating the regulatory framework for fintech companies, with the support of new technologies. The country has evolved rapidly with the implementation of a startup registry, monitoring of the activities of registered companies, and strong consumer security measures.
Mexico, for its part, has the National Banking and Securities Commission (CNBV), in charge of establishing the rules that govern the fintech sector, similar to those developed by Brazil and that allow them to promote the growth of these companies, with the consequent increase of investors and users.
The growth in both countries in terms of digital finance has been notorious since 2019. Beyond the weaknesses in the regulatory framework, reported in various surveys by users, Mexico and Brazil lead the list of pioneering countries in Latin America in fintech regulation.
M.Pino
Source: tynmagazine.com
(Reference image source: Scott Graham, Unsplash)
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