Argentina vs Ecuador
Crypto regulation comparison
Argentina
Ecuador
Legal
Partially Regulated
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.
Ecuador has a complex relationship with cryptocurrency. A 2014 National Assembly resolution banned Bitcoin as legal tender, and the Central Bank prohibits financial institutions from dealing in crypto. However, private ownership and trading of crypto are not explicitly illegal, and peer-to-peer usage exists.
Tax Type
Income
Tax Type
Unclear
Tax Rate
5% (peso-denominated) / 15% (foreign currency)
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNV (Comisión Nacional de Valores), BCRA
Regulator
Banco Central del Ecuador, Superintendencia de Bancos
Stablecoin Rules
No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules
No specific stablecoin regulation
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
- 2014 resolution prohibits crypto from being used as legal tender
- Central Bank bans financial institutions from facilitating crypto transactions
- Private ownership and P2P trading exist in a legal gray area
- Ecuador uses the US dollar as its official currency, limiting monetary policy tools
- No comprehensive crypto regulatory framework in place