Argentina vs Brazil
Crypto regulation comparison
Argentina
Brazil
Legal
Legal
Cryptocurrency is legal in Argentina and widely adopted due to persistent inflation and currency controls. The CNV regulates crypto service providers under a 2024 registration framework. Argentina has one of the highest crypto adoption rates globally, with stablecoins used as a hedge against peso devaluation.
Brazil passed comprehensive crypto legislation (Law 14,478) in December 2022, which took effect in June 2023. The Banco Central do Brasil was designated as the primary regulator for crypto assets used as payment, while the CVM oversees crypto securities. Capital gains on crypto are taxed at 15-22.5%.
Tax Type
Income
Tax Type
Capital gains
Tax Rate
5% (peso-denominated) / 15% (foreign currency)
Tax Rate
15-22.5%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNV (Comisión Nacional de Valores), BCRA
Regulator
Banco Central do Brasil, CVM, Receita Federal
Stablecoin Rules
No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules
Central Bank developing stablecoin-specific rules as part of the crypto regulatory framework
Key Points
- CNV registered as the regulatory authority for virtual asset service providers (VASPs) under FATF guidelines
- Crypto gains taxed as income under the income tax law at progressive rates
- High adoption driven by inflation and capital controls on the Argentine peso
- Exchanges must register with the CNV and comply with AML/KYC requirements
- No legal tender status for crypto; the peso remains the only legal tender
Key Points
- Law 14,478/2022 (Marco Legal das Criptomoedas) provides a comprehensive legal framework
- Banco Central regulates VASPs; exchanges must obtain authorization to operate
- Capital gains taxed at 15% (up to R$5M), 17.5% (R$5-10M), 20% (R$10-30M), 22.5% (above R$30M)
- Monthly gains under R$35,000 from sales on domestic exchanges are exempt
- Receita Federal requires detailed monthly reporting of crypto transactions via IN1888