In June 2021, the Mexican Stock Exchange (BMV) issued a statement that was interpreted by the entire Latin American financial system as a key ban on the banking use of cryptocurrencies: while the BMV does not prohibit them, it does encourage people to maintain a "safe distance" from them.
This is because the decentralization of the crypto sector has allowed them to operate far from central financial authorities, leading to numerous failures and frauds. The bankruptcy of FTX, the largest Bitcoin trading platform, set off alarm bells and has led to these currencies being banned in several countries.
In Latin America, in addition to the two recommendations from the Mexican, Brazilian, and Argentine office 365 database stock exchanges, marketing restrictions have been imposed.
Examples of restrictions
The restrictions in force on the continent follow the model established by Spanish legislation.
In January 2022, the National Securities Market Commission established that all advertising campaigns related to the crypto sector and each of their components "must include information about the risks of the product they are advertising ." Specifically, they must contain the following phrase:.