Bank of Mexico to maintain healthy distance from crypto

The Bank of Mexico has stated it will maintain a healthy distance between cryptocurrencies and the traditional financial system, CoinDesk reported. In its year-end report, the central bank cited high price volatility, significant operational and security risks, and concerns over money laundering and consumer protection. The report specifically warned that the expanding use of stablecoins without a proper regulatory framework could pose systemic risks. The bank concluded that it is crucial to keep the two systems separate until a consistent regulatory framework is established.