Latin America Reaches Breakthrough Year in Crypto Adoption as Regulatory Momentum Accelerates

Latin America is experiencing a breakthrough moment in  crypto adoption, driven by rapid regulatory progress and expanding user participation across the  region. A new report published by Coinchange, in collaboration with Bitso, reveals that digital  asset usage in Latin America grew 116% in 2024, while crypto adoption increased an additional  63% between mid-2024 and mid-2025, surpassing 57 million users holding or transacting with  cryptoassets. 

According to the analysis, 2025 marks the most significant year yet for crypto in the region, as a  combination of regulatory milestones and market maturity positions Latin America as one of the  world’s fastest-growing hubs for digital assets. 

Regulatory Progress Shapes a More Mature Crypto Market 

The study highlights that Latin American countries are advancing toward clearer and more  harmonized regulatory frameworks, influenced by global standards such as the MiCA regulation  in Europe and the GENIUS Act in the United States. Priorities across the region include  stablecoin transparency and reserves, regulated custody, audit requirements, oversight of  virtual asset service providers (VASPs), and deeper integration between crypto platforms and  traditional financial systems. 

Among the countries analyzed: 

• Chile is solidifying its position with its 2023 Fintech Law, setting 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 after piloting a  central bank digital currency (CBDC). 
• Peru, despite lacking a specific crypto law, has seen informal usage grow to 1.28 million  users. 

The Coinchange report concludes that strengthening regulatory clarity will not only expand user  protection and financial innovation, but also help position Latin America as a strategic global  market for digital-asset solutions. 

“The crypto market is experiencing a crucial moment. Adoption is growing rapidly, yet regulation  is still developing and hasn’t fully kept pace with the presence of digital assets across the  region. Countries like the United States are already moving forward with initiatives such as the  GENIUS Act, and the region cannot fall behind,” said Felipe Vallejo, Chief Corporate Affairs  Officer at Bitso. “We have a unique opportunity to build a modern and flexible framework that  drives innovation, protects users, and strengthens the digital financial ecosystem.” 

Country Highlights 

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.