The report covered the period from June 2023 to June 2024, during which transactions with stablecoins, Bitcoin (BTC), and other cryptocurrencies experienced exponential growth.
Argentina’s cryptocurrency ecosystem is reaching a critical moment. With a transaction volume of $91.1 billion, the country has outpaced Brazil, positioning itself as the leader in digital asset adoption in the region. This growth has driven various sector players to call for regulations that provide greater clarity and stability to a constantly expanding market.
At the LaBitConf conference in Buenos Aires, key figures from the crypto industry shared their perspectives on how regulation could impact the local market. Many see the creation of a regulatory framework as a “crucial step” toward bringing structure and legitimacy to a sector that has grown significantly over recent years, despite the lack of oversight.
Alejandro Estrin, a representative of OKX in Argentina, highlighted that "regulating the crypto market doesn’t mean stifling innovation; on the contrary, it’s about creating an environment that supports growth and protects users." In this context, a public consultation launched by the Argentine government invites businesses and citizens to share their views and suggestions. According to Estrin, this approach "opens the door to more suitable regulation."
For industry leaders like Matías Bari, co-founder of Satoshi Tango, regulation should be clear and avoid imposing restrictions that could hinder the market’s growth. "An ideal regulation would help the sector advance and allow users to have all the necessary information to understand the risks and benefits of their investments," Bari commented.
Alejandro Rothamel, legal director of Ripio, emphasized the importance of creating specific rules tailored to Argentina’s crypto ecosystem. “Regulation can bring stability and confidence to the local market and enable the sector to continue growing with a solid structure,” Rothamel affirmed.
Argentina’s perception as an international crypto leader has grown substantially. Economic volatility and high inflation have driven many Argentines to adopt cryptocurrencies as an alternative for saving and investment. This boom is seen as an opportunity to establish a regulatory framework that further promotes sector development.
Matías Reyes, Trubit’s country manager, emphasized that "from abroad, Argentina is seen as a model of crypto adoption in Latin America." Regulation, Reyes said, would be a natural step to solidify this position and offer more security to both businesses and users.
With Argentina leading the way in crypto transactions in the region, the expectation is that this regulatory process could set a positive and appealing precedent for other developing economies.