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Mexico's lower house approves fintech law

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Mexico's lower house approves fintech law

The Mexican Congress' Chamber of Deputies has approved the law regulating the country's financial technology industry, El Financiero reported.

On March 1, the lower house passed the law with 264 votes in favor, 61 against and one abstaining. The bill was sent to the executive branch for publication.

The fintech law, which recognizes startup businesses for electronic payments and crowdfunding, was already endorsed by the Senate before 2017 ended.