Contrary to constitutional prohibitions, Sheinbaum’s political affiliation is with the same party as that of President Andres Manuel Lopez Obrador.
Although they have not put out a whole crypto policy, Sheinbaum’s party has shown their intention to regulate blockchain technology and has taxed cryptocurrency earnings at a rate of 20%.
According to numerous sources, including The New York Times, Claudia Sheinbaum, the former mayor of Mexico City, was elected president of Mexico, making her the first woman to assume the position.
This outcome is indicative of the likely persistence of Mexico’s crypto policy, since Sheinbaum is a member of the governing Morena party. Constitutionally, her predecessor, Andres Manuel Lopez Obrador, was unable to seek reelection. While cryptocurrency received almost little attention in Mexico’s largest election to date, Sheinbaum has allied herself with Obrador’s ideals.
While the Morena party has taxed cryptocurrency earnings at 20%, they have not offered any comprehensive legislation pertaining to the crypto business. Global anti-money laundering and terror financing legislation also need the registration of bitcoin exchanges. To further ensure the safety of the blockchain and its ecosystem, the party has also shown an interest in regulating it.
It’s too soon to tell whether the Morena party would reevaluate its hidden stance on crypto policy in light of recent crypto-related events in the US that occurred during Mexico’s election campaigns. Cryptocurrency might be an alternative for Mexicans sending money back to the US as the country is the biggest recipient of such transfers.
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