Mexico: Smart Contracts Definition and Legality

As of August 2018, Mexico has not developed Distributed Ledger Technology laws or laws regarding smart contracts so the definition of a smart contract and whether a smart contract is legally binding remains unclear.

However, the Blockchain HACKMX report introduced a smart contract as “A contract is a collection of code (its functions) and data (its status) residing in a specific address in the Ethereum blockchain. Contract accounts are able to exchange messages between them, as well as do pretty much the entire Turing calculation.” (source)

  • This definition is not legally binding.


Previous Section Next Section

Have a comment, edit, or item to add? Share your thoughts by commenting below!

comments powered by Disqus