In accordance with the Transitory Provisions of the Law to Regulate Financial Technology Institutions enacted by the Constitutional President of the United Mexican States (“Mexico”) and published in the Official Gazette of the Federation on March 9, 2018, Bitso, S.A.P.I. de C.V., states that prior to the entry into force of this law, it is performing activities regulated by it. Bitso, S.A.P.I. de C.V., will request the respective authorization from the National Banking and Exchange Commission (CNBV) and, if applicable, from the Bank of Mexico (Banxico), in accordance with the term established in the general provisions issued for that purpose.
When Bitso, S.A.P.I. de C.V. requests the authorization mentioned above, we will announce the state of the ongoing process and that the activities carried out during this period are not supervised by the Mexican authorities. We estimate that the authorization will be granted within the term indicated in the respective law and general provisions that are issued for that purpose.
So as to continue providing order and transparency in the sector known as "FinTech" and to offer the respective financial technologies for users benefit, Bitso, S.A.P.I. de C.V., constantly at the forefront of the Mexican financial sector, will continue to carry out these activities.*
*Even if this disclosure is available in other languages, the meaning of the terms, conditions and representations of it are still subject to its definitions in the Spanish language, which is the agreement that governs this relationship.