LATAM crypto news: Peru pushes blockchain boundaries while Argentina bets on crypto taxes

LATAM is establishing itself as a vital hub in the global bitcoin ecosystem, with new milestones demonstrating both rapid acceptance and rising creativity.

This week’s highlights are that Peru is progressing with blockchain in mining and digital currency, preparing for on-chain elections in 2026, while Buenos Aires launches BA Cripto, allowing people to pay taxes in cryptocurrency and offering incentives to lure global blockchain enterprises.

Blockchain adoption in Peru

Sherlock Communications’ recent Blockchain LATAM Report 2025 recognised Peru’s considerable development in blockchain adoption across a variety of sectors.

In 2024, the Central Reserve Bank of Peru (BCRP) collaborated with Bitel to establish a digital currency that allows transactions to be made using the BiPay wallet.

This effort enabled customers in rural locations with limited access to traditional banking to conduct digital-sol transactions, hence increasing financial inclusion in isolated populations.

Furthermore, Peru’s mining industry made history in 2023 when Minsur became the first tin producer to record all of its output on blockchain, ensuring traceability and transparency in a key sector for the country.

Another milestone cited in the report is the preparedness for blockchain integration in Peru’s 2026 general elections, which will follow the ratification of Law 32270.

The National Office of Electoral Processes (ONPE) and the National Jury of Elections (JNE) are working on a permissioned blockchain system to register votes, ensuring immutability, auditability, and trust in the electoral process.

According to Luiz Eduardo Abreu Hadad, a consultant and researcher at Sherlock Communications, these projects represent a “revolution” in Peru’s blockchain ecosystem, establishing the country as one of Latin America’s growing leaders alongside Colombia.

Buenos Aires Launches “BA Cripto” for taxes and public services

The Buenos Aires City Government has announced BA Cripto, a set of measures that would allow people and businesses to pay taxes and public service fees in cryptocurrency.

Residents can now pay their property taxes, car taxes, gross income, and non-tax payments such as traffic fines and driver’s license renewals by scanning a QR code.

According to Mayor Jorge Macri, the project aims to establish Buenos Aires as a global leader in crypto adoption, pointing out that the city already has over 10,000 people getting income from abroad via cryptocurrency or PayPal.

Aside from allowing digital assets to be used to pay taxes, the initiative also implements legislative measures targeted at enticing crypto enterprises to the Argentine capital.

These include a new tax category designed solely for cryptocurrency trading, a modified gross income tax base that only applies to exchange spreads, and the exclusion of Virtual Asset Service Providers from bank withholding regimes.

Local officials emphasised that these improvements simplify compliance, minimise bureaucracy, and increase legal certainty, making Buenos Aires a more appealing location for investment in the sector.

Brazil debates creation of a sovereign Bitcoin reserve

The Economic Development Commission of Brazil’s Chamber of Deputies convened a public hearing to explore the idea of creating a Sovereign Strategic Reserve in Bitcoin.

Representatives from the National Treasury, Central Bank, Febraban, Méliuz, MDIC, and ABCripto attended the session, each giving a unique perspective on the potential benefits and hazards.

While private sector voices underlined Bitcoin’s scarcity and potential as a reserve diversification tool, government officials emphasised the importance of prudence, particularly in terms of volatility, regulatory safeguards, and monetary policy consequences.

Participants took a variety of approaches to the initiative: Méliuz emphasised Bitcoin’s predictable issuance and encouraged practical solutions involving government and private actors.

The National Treasury warned about risks to citizen privacy and asset custody, and the MDIC proposed viewing Bitcoin as a commodity that could support diversification if introduced gradually.

Meanwhile, the Central Bank emphasised Bitcoin’s volatility and potential impact on monetary policy, while Febraban urged caution before pursuing adoption.

ABCripto emphasised the need for legislative certainty and continued regulation in maintaining a safe and balanced system.

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