JamesBrown
Sat Jun 08 2024
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5 answers
1303
Is crypto regulated in Mexico?｜In Mexico, there are no specific rules applicable to border restrictions or obligations to declare the holding of cryptocurrencies, except for the existence of income derived from the sale of Virtual Assets (for further information, see Taxation above) .
Could you please clarify the regulatory status of cryptocurrencies in Mexico? Do they have any specific rules regarding border restrictions or obligations to declare holdings of crypto assets? Are there any exceptions to this, such as taxation requirements for income derived from the sale of Virtual Assets? I'm interested in understanding the legal framework surrounding cryptocurrencies in Mexico to ensure compliance and avoid any potential issues.
BlockchainWizardGuard
Sat Jun 08 2024
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6 answers
1424
Is Mexico Bitcoin friendly?｜In Mexico . For example, you may purchase a car for up to 3,210 Times the Minimum Wage (TMW) effective in Mexico, approximately MXN $225,000 or USD $13,400 with Bitcoin.Bitcoin is legitimated and recognized as a means of payment and transmission of value, without being a legal currency
Could you please elaborate on Mexico's attitude towards Bitcoin? I'm curious to know if it's considered a Bitcoin-friendly country. For instance, it's fascinating that one can purchase a car worth up to 3,210 times the Minimum Wage in Mexico, which translates to approximately MXN $225,000 or USD $13,400, using Bitcoin. Does this indicate widespread acceptance of Bitcoin as a payment method? Is Bitcoin officially recognized and legitimized in Mexico, even though it's not considered a legal currency? I'd appreciate your insights on this matter.
HanRiverWave
Sat Jun 08 2024
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6 answers
1571
How much money can you transfer to Mexico?｜There is . Different money transfer providers will impose their own limits when sending to Mexico from the US, for example: Western Union's sending limit to Mexico is $7,499. Xoom's sending limit to Mexico is $10,000.no legal limit on the amount of money you can send to Mexico
Could you please elaborate on the transfer limits to Mexico from the US? Do these limits vary depending on the money transfer service? For instance, I've heard Western Union has a sending limit of $7,499 to Mexico. What about Xoom? And is there a general, legal limit on the amount of money that can be sent to Mexico? I'm just trying to get a clearer picture of the options and restrictions involved in this process.
Bianca
Sat Jun 08 2024
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5 answers
1017
Is Bitcoin mining illegal in Mexico?｜However, in Mexico, there is a general principle: everything that is not prohibited by law is permitted for individuals or companies that do not carry out a Reserved Activity. Therefore, since there are no regulations or prohibitions applicable to mining, .it is a permitted activity
Could you clarify for me, is Bitcoin mining considered illegal in Mexico? I've heard that Mexico follows a principle stating that anything not explicitly prohibited by law is permissible for individuals or businesses not engaging in Reserved Activities. Given this, does it mean that since there are no regulations or bans on mining, it is effectively a lawful endeavor in Mexico?
DaeguDiva
Sat Jun 08 2024
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5 answers
985
How much cash is allowed in Mexico?｜If you enter or leave Mexico, you must declare any sum of money equaling that you bring in cash, checks, money orders, other cashable documents or a combination of them. Failing to declare carries a fine ranging from 20% to 40% of the exceeding amount.US$10,000 or more
How much cash is allowed to be carried in Mexico without facing legal consequences? And, when entering or exiting Mexico, is there a requirement to declare cash in any amount? What are the specific fines imposed for failing to declare cash exceeding a certain threshold? Also, what is the threshold amount for which declaration becomes mandatory? Is it US$10,000 or is there a different figure?
