In Mexico, two groups keep an eye on the foreign exchange market. First, there’s Banco de Mexico, which handles money and foreign exchange stuff for the country. Created by the Banco de Mexico Law, this central bank decides interest rates, controls how much money is printed, and keeps the country’s money system safe. It also keeps the local money steady and is the only one allowed to print Mexican pesos.

Working with the Ministry of Finance, the central bank takes care of Mexico’s foreign money and gold. What the peso is worth is mostly based on how the market’s doing, what’s happening around the world, and exchange rates since it uses a free-floating exchange rate system. But, the central bank can step in if exchange rates jump around too much.

The Comisión Nacional Bancaria y de Valores (CNBV) watches and controls how payment services, brokerage firms, stock exchanges, and others act in the local financial market. Brokers need permission from the CNBV to work in Mexico. This group makes rules about how the market should act and helps protect local traders from bad behavior and other shady stuff.

Lately, the CNBV has been working hard to find fake investment schemes that might mess with forex or crypto stuff. They’ve been sending out warnings and taking action against companies that lie about being licensed. Mexican traders should check the CNBV’s warning list often. If brokerage firms want permission, they need to show they have enough money to run their business and pay their customers. Those asking for a license have to guess how much money they’ll make and how much the market will grow each year. Approved companies have to follow strict rules to stop money laundering and know who their customers are. Also, they have to be open about how they do business, giving clear info about their fees and the money risks involved with what they offer. Companies that want to join must set up offices in Mexico and give detailed plans and financial records, plus info about how qualified their main managers are.