MEXICO

On February 18 the first G20 Finance Ministers’ Forum ended. Representing Mexico, the Secretary of Finance and Public Credit (SHCP in Spanish), Rogelio Ramírez de la O, participated virtually, highlighting the need to link the financial system with cryptocurrencies through regulation and supervision. Likewise, the official also held a meeting with the Financial Mayor of London, Vincent Keaveny, and the British Ambassador to Mexico, Jon Benjamin. During the meeting, both parties discussed the development of financial markets and the Fintech industry.

During the G20 Ministers’ Forum, Ramírez de la O, emphasized that due to the increase in risks caused by financial innovations, it is imperative to regulate and supervise digital assets, such as cryptocurrencies. In this sense, he stated that adequate policies must be planned to mitigate such risks. Finally, he stated that the objective should be to reduce inequality in access to digital technologies in order to promote financial inclusion for the entire population.

On the other hand, Ramirez de la O, together with Vincent Keaveny and Jon Benjamin, held a meeting in which they discussed Fintech industry projects and financial inclusion through the development of financial markets. Previously, the Financial Mayor of London had also participated in another meeting with the President of the National Banking and Securities Commission (CNBV in Spanish), Jesús de la Fuente, in which they discussed open banking and financial technology projects.