Latin America
Latin America is an increasingly important region for the digital asset sector, with regulatory approaches ranging from established licensing frameworks to jurisdictions still considering dedicated legislation. As policymakers address consumer protection, financial stability, anti-money laundering and the role of digital assets in payments and capital markets, the region presents important opportunities for regulatory engagement. DCGG monitors regulatory, political and market developments across key LATAM jurisdictions, with a particular focus on Brazil and other markets where legislative and supervisory frameworks are taking shape. Through engagement with policymakers, participation in public consultations and dialogue with industry stakeholders, DCGG contributes to discussions on regulatory approaches that support responsible innovation and the sustainable development of the digital asset sector.
Regulatory and Political
Developments in LATAM
BrazilBrazil has established a regulatory framework for crypto-assets, with the Central Bank of Brazil (BCB) responsible for the regulation and supervision of VASPs and the Securities and Exchange Commission (CVM) overseeing digital assets that qualify as securities. Rules issued by the BCB, in force since February 2026, establish a framework for authorisation, operational requirements, as well as certain foreign exchange and international payment activities involving virtual assets. The implementation of the authorisation framework, the treatment of stablecoins and the development of rules for tokenised securities remain important areas to follow.
ArgentinaArgentina has established a formal framework for VASPs, bringing them within the anti-money laundering regime and designating the National Securities Commission (CNV) as the registration and supervisory authority. It has also been an early mover on tokenisation, with a regulatory sandbox for the digital representation of securities. Stablecoins remain without a dedicated regime, and a future framework is likely to fall within the remit of the Central Bank (BCRA), which currently bars banks and payment providers from crypto services, making this a key pending issue to watch.
ColombiaColombia has not established a comprehensive, dedicated licensing framework for VASPs. However, existing rules impose anti-money laundering and reporting obligations on relevant providers, including requirements administered by the Superintendence of Companies and the Financial Intelligence Unit (UIAF). In Colombia, discussions around a dedicated VASP framework, access to financial services, stablecoins and tokenisation continue to shape the country’s evolving digital asset landscape.
MexicoMexico’s regulatory framework remains comparatively restrictive for crypto-asset activities conducted by regulated financial institutions. The 2018 Fintech Law and Banco de México’s rules govern the circumstances in which financial technology institutions and banks may operate with virtual assets, while consumer-facing crypto platforms outside the regulated financial sector are also subject to applicable anti-money laundering requirements. Ongoing regulatory developments and the evolution of existing frameworks remain important areas to monitor as Mexico’s regulation continues to mature.
UruguayUruguay has developed its crypto-asset framework through Law No. 20,345, which amended existing legislation, and subsequent Central Bank of Uruguay (BCU) regulation. In July 2026, the BCU adopted detailed requirements for VASPs, covering authorisation, financial safeguards and compliance obligations. The framework also recognises tokenised securities within the wider securities regulatory perimeter.
Across LATAM, countries take different approaches to digital asset regulation, with varying levels of regulatory clarity and maturity. For industry participants, understanding local requirements and tracking policy changes affecting digital assets, payments and financial markets is essential to navigating compliance obligations and accessing new markets.
Our Team in LATAM
