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Argentina vs El Salvador

Crypto regulation comparison

← Back to map | Argentina | El Salvador
Argentina

Argentina

El Salvador

El Salvador

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.

El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.

Tax Type Income
Tax Type No tax
Tax Rate 5% (peso-denominated) / 15% (foreign currency)
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CNV (Comisión Nacional de Valores), BCRA
Regulator BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules USD is the primary currency; Bitcoin-specific legislation in place
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
  • First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
  • Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
  • January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
  • No capital gains tax on Bitcoin transactions for individuals
  • Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds
Sources
Sources