Argentina has emerged as the leading nation in Latin America for cryptocurrency adoption, surpassing Brazil, according to the Blockchain Latam Report 2025. Argentines received $91 billion on-chain between July 2023 and June 2024, making it the most active country in the region for crypto transactions. This achievement is notable given Brazil's larger population and market size. The report highlights Argentina's user-driven approach to crypto adoption, primarily through exchanges, contrasting with Brazil's top-down strategy led by traditional financial institutions. Recent anti-crypto measures by the Brazilian government may further drive its market offshore, as observed by Sherlock Communications.