Cryptocurrency Growth in Latin America
Latin America is witnessing remarkable growth in cryptocurrency engagement, marking 2024 as a pivotal year. According to current data from the Coinchange Regulatory Report, the region has seen a staggering increase of 116% in cryptocurrency adoption, with a further uptick of 65% recorded in just the first half of 2025. The number of cryptocurrency users across Latin America has surpassed 57 million, illustrating a thriving digital economy.
Factors Driving Adoption
This surge can be attributed to several factors, including favorable regulatory developments, a more evolved market, and proactive measures from regulators in both the United States and Europe.
Regulatory Developments
In this burgeoning landscape, Brazil has emerged as a regulatory frontrunner by implementing Law No. 14,478 in 2022, which set forth a comprehensive framework for digital currencies. Meanwhile, Chile made significant strides with its 2023 FinTech Law, paving the way for digital asset regulations. Notably, Mexico was among the first globally to establish a formal regulatory framework for virtual assets through its FinTech Law introduced in 2018.
Expert Insights
Felipe Vallejo, Chief Corporate Affairs Officer at Bitso, emphasizes that this is a crucial time for the region to create a modern and adaptable regulatory structure that fosters innovation, safeguards users, and bolsters the digital financial ecosystem.
As analysts point out, these developments suggest that Latin America is swiftly evolving into a key player in the global landscape of financial innovation and digital asset solutions.
