- Latin America’s crypto market surged 45.7% to $3.4T; nations like Brazil advance CBDCs while debating new tax rules.
- Argentina approves RWA tokenization ($39.5B market), Colombia recognizes Bitcoin for payments; stablecoins combat inflation and banking gaps.
Brazil ranks among the top ten nations for digital inclusion and new economy activities, according to Chainalysis. A key project is the Real Digital (Drex), designed as a digital extension of Brazil’s existing currency.
While no launch date is confirmed, Brazilians will need an approved financial institution, like a bank, to access Drex. These institutions will move money from user accounts to Drex wallets. Earlier in 2025, Caixa bank tested offline Drex payments in a riverside community in Pará state.
Despite this project, Brazil faces uncertainties around crypto regulation. On June 11th, the federal government introduced Provisional Measure 1.303/2025. This measure imposes a 17.5% tax on all crypto income and removes a previous exemption for investments under 35,000 Brazilian Reais. If approved by lawmakers, this tax starts in the 2026 calendar year.
“The tax on capital gains in Brazil alters policy and will reshape investor actions,” stated Nadezhda Pereira, BloFin’s Latin America Brand Ambassador.
“We expect many users to become more cautious, shifting towards long-term holding or exploring non-custodial and DeFi options for privacy and tax efficiency.”
Although experts consider the tax likely to pass, comprehensive crypto rules remain undefined. The Central Bank, following public consultations, is working on effective crypto regulation expected in the second half of 2025.Â
Argentina and Colombia Make Crypto Regulation
Argentina recently advanced in tokenization. On June 16th, its National Securities Commission (CNV) approved Resolution 1069, covering the tokenization of real-world assets (RWA). The CNV noted the RWA token market value already hits $39.5 billion, with daily trading near $2.4 billion.
Argentina also has a specific regulatory framework classifying crypto as property and banning bank crypto transactions. Since 2022, institutional crypto use within the banking system is also prohibited.
Colombia has implemented mandatory rules for exchanges and recognizes Bitcoin for remittances and payments. “In Latin America, stablecoins are not just speculative assets; they are becoming tools for everyday use,” Pereira observed.
“In places like Argentina with inflation over 200%, or Brazil where traditional banks leave many underserved, people use USDT and USDC to protect earnings, send money across borders, and pay for essentials.”
Mexico established rules for sector firms in 2018 via its “Fintech Law,” but continues developing an institutional digital currency. After delays, the launch of Mexico’s CBDC is planned for 2025. In Central America, El Salvador remains the only country adopting a crypto asset as legal tender.
