Mexico Joins the US and Others in Implementing Capital ControlsThe Dollar Vigilante
Oct. 31, 2012
FACT CHECK: Hillary Said 90% of Clinton Foundation Donations go to Charity. Actual Number? 5.7%
Jorge Ramos: "The Future of this Country Will be Composed Solely by Minorities," It's "Beautiful"
John Podesta Wasn't 'Hacked,' He Fell For An Email Phishing Scam
Illegal Immigrant Child Molester Flees Guatemala for U.S., Goes on Molestation Spree
Dem Rep. Sheila Jackson Lee Denounces 'Wikipedia' for Publishing Leaked Emails!
Regrettably, Mexico, too, has now hopped on the capital control bandwagon. In 2010, Mexico instituted strict limits on foreign exchange cash transactions to $1,500 per person per month which made it tough on tourists and resulted in many dollar exchanges closing their doors.
Now, under the auspices of shutting down a $60 billion drug trafficking business, Mexico has passed a law nominated the "Federal Law on the Prevention and Identification of Operations from Illicit Sources", due to take effect in July of 2013. This law will require the reporting of certain transactions involving cash while prohibiting others.