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Latin America has different viewpoints on cryptocurrencies depending on the territory, creating a vast legislative spectrum. In most counties like Mexico, Argentina, Brazil, Venezuela and Chile, digital currencies are widely accepted and considered legal. There, these cryptocurrencies are treated as assets and are subject to income tax or capital gains tax depending on the region. On the other end of the spectrum, Bolivia and Ecuador have issued a ban on cryptocurrencies, except for government-issued SDE tokens. There are not many regulations surrounding the crypto exchanges in Latin America and are considered legal, except for Bolivia and Ecuador as we mentioned earlier. Mexico is the only territory that has made changes to their anti-money laundering acts that require exchanges to register and report to the government. As far as we can tell, ICOs are also legal in most countries that are friendlier towards crypto assets.Congratulations to Fabio Sperling, the 2020 WPT Online Series WPT500 champion, an accolade that comes with $281,125 in prize money.
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