- Ecuador and Bolivia are shifting toward crypto-friendly policies, potentially advancing Bitcoin adoption.
- Honduras and Chile show divided approaches, with regulation and political conflict shaping the future of cryptocurrency.
The upcoming elections in Latin America for 2025 mark a significant juncture for cryptocurrency regulation across the region. As Ecuador, Bolivia, Chile, and Honduras prepare to elect new leaders, Bitcoin and digital assets are emerging as central topics in political discourse.
The pro-Bitcoin stance adopted by the recent U.S. administration under Donald Trump has fueled expectations of a ripple effect on global political landscapes, particularly in Latin America.
Ecuador’s election cycle begins on February 9, with a second round of presidential voting scheduled for April. President Daniel Noboa, who has championed the regulation of Bitcoin as an asset class under the “Anti-Pillobers Law,” is seeking to extend his mandate.
This law, enacted in December 2024, recognizes Bitcoin as an investment tool while maintaining restrictions on its use as legal tender.
Noboa’s administration aims to regulate the cryptocurrency ecosystem to enhance tax collection and provide new revenue streams, distinguishing it from El Salvador’s model of widespread Bitcoin adoption.
In contrast, Bolivian politics have undergone a dramatic transformation regarding Bitcoin. The nation lifted its previous ban on cryptocurrency in 2024, citing economic necessity due to a dollar shortage.
President Luis Arce’s administration has overseen a surge in Bitcoin and stablecoin usage as citizens turn to digital currencies to mitigate economic instability. Arce’s potential re-election could solidify Bolivia’s position as a crypto-friendly state, though internal political rifts and a lack of clarity on the opposition’s stance leave the future uncertain.
Chile’s approach has been more reserved. Although President Gabriel Boric’s administration has imposed taxes on cryptocurrency ownership and promoted a Fintech Law to regulate digital assets, bold initiatives, such as a proposal for a strategic Bitcoin reserve, remain on hold.
With presidential elections in November 2025, potential candidates like José Antonio Kast, who previously expressed openness to Bitcoin adoption, could influence Chile‘s direction toward a more progressive crypto framework.
Honduras presents a unique scenario. Amid speculation about Salvador Nasralla’s association with Bitcoin, stemming from public appearances with crypto-related symbols, the political discourse remains ambiguous.
Current President Xiomara Castro has taken a hard stance against Bitcoin “citadels,” such as the ZEDE in Roatán, citing sovereignty concerns. However, ongoing disputes with these zones are expected to influence the incoming administration’s policies.
As Latin America grapples with economic challenges and evolving political landscapes, Bitcoin continues to be a polarizing issue. The upcoming elections in 2025 will likely shape the trajectory of cryptocurrency adoption and regulation in the region, reflecting broader global trends.