Cryptocurrency Adoption in Latin America Surges, User Base Exceeds 57 Million

BlockBeats News, November 20th. According to the latest report from the cryptocurrency exchange platform Bitso, Latin America is experiencing a "breakthrough" year in cryptocurrency adoption. Data from Coinchange Regulatory Report shows that cryptocurrency usage in the region grew by 116% in 2024, followed by another 65% growth in the first half of 2025, with the total number of users now exceeding 57 million.

This significant growth has been largely driven by an improved regulatory environment, a maturing market, and proactive regulatory measures in the US and Europe. Brazil became a regional regulatory leader with Law No. 14,478 enacted in 2022, establishing a comprehensive crypto framework; Chile laid the foundation for digital assets through the 2023 FinTech Law; and Mexico's 2018 FinTech Law was one of the world's earliest formal regulatory frameworks to recognize virtual assets.

Felipe Vallejo, Chief Corporate Affairs Officer at Bitso, stated that now is a key moment to build a modern and flexible regulatory framework to drive innovation, protect users, and strengthen the digital financial ecosystem. Analysts predict that Latin America is rapidly becoming a strategic hub for global financial innovation and digital asset solutions.