What started over 15 years ago as a decentralized, transparent, secure, and independent alternative for transferring and managing resources has now solidified itself as a global engine of development, driven by technological innovation in the digital era. Cryptoassets like Bitcoin have moved beyond being a niche curiosity and have become a real opportunity to strengthen economies, enhance the traditional financial system, and create value for society, especially in times of political and economic instability.
This evolution has led more and more countries to accelerate discussions on regulations that make sense for this market. In the United States, for example, Bitcoin is already seen as a key player in a more balanced and multipolar financial system.
In Latin America, interest continues to grow. According to the Geography of Cryptocurrency 2024 report by Chainalysis, the region was one of the leaders in crypto use last year, with a 42.5% increase in transaction volume. And the most interesting data point: a significant portion of this movement comes from institutional and professional investors, meaning those moving volumes over $10,000.
In practice, several countries are already getting their hands dirty, taking important steps in creating regulations. Brazil has approved Law 14.478/2022, which establishes a legal framework for crypto assets, and the Central Bank is listening to the market to define the next steps. In Argentina, the UIF (Financial Information Unit) published Resolution 49/2024, a rule that requires data sharing among sector companies, the famous Travel Rule. In Colombia, in addition to discussions about digital currency, Congress has already approved, on first vote, Bill 510 of 2024, the so-called ‘Crypto Law,’ which aims to speed up sector development in the country.
Other countries are also making progress: El Salvador continues to use Bitcoin as its official currency, while Panama has started accepting crypto tax payments with automatic conversion to the dollar, something unprecedented in the world.
For Paolo Ardoino, CTO of Bitfinex, Latin America has everything to lead this movement. ‘We strongly believe in the region’s potential to embrace this new model represented by Bitcoin, stablecoins, and the entire crypto ecosystem,’ he says. ‘Well-crafted, clear, and technically sound regulations help build trust, attract investment, and strengthen the market.’
With this in mind, Bitfinex lists three major advantages that arise when a country has well-defined rules for the crypto asset market:
Attracts more foreign investment
When there is legal certainty, investors feel more confident to put money into the sector. They begin to see the crypto market as a solid structure, with enough rules, technology, and liquidity to plan for the long term. And, for investors, three things are a priority: security, compliance, and access to the best tools to manage their assets.
Professionalization of the business ecosystem
Hundreds of companies in Latin America, including family offices, investment funds, large corporations, and even public entities, are adopting crypto not just as a trend but for understanding its strategic role in finance. This serves to diversify investments, protect against inflation, cut costs, and gain financial autonomy. According to Bitfinex, the market has moved beyond mere speculation and is now part of the financial planning of forward-thinkers.
Integration with the traditional financial system
Today, those managing funds, corporate treasuries, and family assets already understand that crypto is not a competitor to the traditional market; it is a complement. This integration helps reduce risks, brings more stability, and opens doors to access markets and opportunities that the traditional financial system alone cannot reach.
Will Hernández, Business Development Manager at Bitfinex in Latin America, commented: “Our work is not to debate whether the market will adopt crypto in the future or not. We show that the infrastructure already exists and works. At Bitfinex, we see the region as a market with a solid financial foundation, advanced technology, and a real willingness to modernize, and we continue to bet on it, building bridges between the two worlds”.
