Latin America is having a “breakthrough” year in regard to crypto adoption. This is according to the Latam digital asset platform Bitso.
Bitso cites data from a recent Coinchange regulatory report stating that Latin American crypto usage increased by 116% in 2024 and by 65% through the first half of 2025.
Digital asset users now top 57 million. The growth has been fueled by the improving regulatory environment and the maturity of the market.
Leadership in the US and Europe is helping too. The US recently approved the GENIUS Act, stablecoin regulation, and a market infrastructure bill is next in the queue.
MiCA, or Markets in Crypto Assets regulation, is already the law in the European Union.
The report highlights specific events, including:
- Chile is solidifying its position with its 2023 Fintech Law, laying a robust foundation for digital asset rules.
- Panama could become a tokenization hub if it advances pending digital-asset legislation.
- Uruguay continues evaluating the next phase of its regulatory path following the pilot of a central bank digital currency (CBDC).
- Peru, despite lacking a specific crypto law, has seen informal usage grow to 1.28 million users.
Coinchange predicts that Latin America is emerging as a strategic global hub for financial innovation and digital asset solutions.
Felipe Vallejo, Chief Corporate Affairs Officer at Bitso, says that crypto is at a crucial moment as usage is growing yet regulation is not necessarily keeping pace.
“We have a unique opportunity to build a modern and flexible framework that drives innovation, protects users, and strengthens the digital financial ecosystem.”
Other country-specific events of note include:
Argentina: High Adoption, Evolving Framework
Mass adoption contrasts with a regulatory framework still in transition. The country operates a Public Registry for Virtual Asset Service Providers, requiring stringent reporting and security processes, laying the groundwork for a more modern set of rules.
Brazil: Regional Regulatory Leader
With Law 14.478 (2022), Brazil established the region’s most advanced and comprehensive crypto framework, including VASP licensing requirements, custody and consumer-protection standards, and audit and transparency rules. Brazil is also a pioneer in stablecoin oversight.
Colombia: Adoption Outpaces Regulation
Colombia’s strong growth in digital-asset users outstrips its regulatory progress. Initiatives such as the Financial Superintendency’s regulatory sandbox enabled pilot projects with banks and crypto platforms, but broader legislative efforts remain inconclusive.
Mexico: A Mature Fintech Model for the Region
Mexico’s 2018 Fintech Law remains one of the world’s earliest regulatory frameworks to formally recognize virtual assets. Its requirements for provider authorization, AML controls above USD 2,500, and strict reporting standards continue to influence regional regulators seeking a balance between innovation and consumer protection.