Latest Payments News: Latin America Doubles Down On Instant Payments As Regulation Races To Keep Pace, and more

Catch up on some of the stories our payments compliance analysts have covered lately, and stay up-to-date on the latest news.

Latin America Doubles Down On Instant Payments As Regulation Races To Keep Pace

2026 is set to be a pivotal year for instant payments in Latin America, with evolving regulations set to redefine how banks and payment service providers (PSPs) operate and compete in the payments market across the region.

Banks and PSPs must adapt to evolving regulatory expectations to maintain operational resilience and competitive advantage.

In Colombia, the launch of Bre-B is expected to be accompanied by new regulatory guidance as the country seeks to refine its first instant payments framework. At the same time, Brazil, now five years into its instant payments system, Pix, is strengthening supervisory authority, with a particular focus on fraud prevention.

Throughout 2026, banks and PSPs should monitor the expansion of instant payments across Latin America. Both newly launched and established systems are likely to face heightened supervisory scrutiny, stricter anti-fraud requirements and evolving standards that affect operations, compliance programmes and competitive positioning.

Chile Set To Drive Open Finance Innovation In Latin America

Chile is emerging as a regional leader in Latin American fintech, moving beyond traditional open banking to incorporate data sharing from credit institutions, asset managers and insurance companies. This shift is poised to transform how financial information is shared, offering institutions new opportunities to develop personalised products and services.

The country enacted Law 21.521, or the Fintech Law, in January 2023 to establish an open finance system. Many of its provisions took effect in 2024, but several of the key requirements, including the Open Financial System (OFS), will take hold in 2026, redefining data-sharing practices and market competition.

Financial institutions should prepare accordingly or risk enforcements such as financial penalties and suspended registrations in one of the fastest-growing open banking jurisdictions in Latin America.

Argentina And Brazil Set The Stage For VASP Compliance

Argentina and Brazil, Latin America’s two largest economies, are preparing for full implementation of regulatory frameworks governing virtual asset service providers (VASPs) under the Argentine National Securities Commission (CNV) and the Central Bank of Brazil (BCB).

These frameworks aim to formalise previously unregulated virtual asset markets, balancing innovation with risk management.

For market participants, this will require updates to compliance practices, governance, reporting and cybersecurity, while navigating two distinct regulatory ecosystems.

In Argentina, the CNV issued General Resolution No. 1058 in March 2025. The regulation came into effect on December 31, 2025, and establishes principles for VASPs, including information security policies, prudential standards account and funds segregation, and customer protection disclosures.

The CNV emphasises avoiding over-regulation while fostering innovation. The Financial Intelligence Unit (UIF) will oversee risk-based anti-money laundering and counter-terrorism financing (AML/CTF)  compliance, increasing transparency, mitigating financial crime and building market trust.

The CNV has issued a suite of related regulations and guidance aimed at refining the framework and clarifying obligations for VASPs, including on supervision fees and asset requirements.

Moving into 2026, further regulatory refinement and clarification are expected.  

Federal Consumer Protection Rollback Forces US Firms To Navigate State-By-State Patchwork

The Consumer Financial Protection Bureau (CFPB) has seen significant changes since the Trump administration took office, with rulemakings overturned, delayed or suspended and the legality of the agency’s funding challenged.

President Trump’s new acting director ordered staff to cease almost all work and supervision activities. The resulting disruption continues to affect CFPB operations and create uncertainty for financial services regulation.

Gaps in federal consumer-protection rules increase compliance, liability and reputational risk, forcing payment service providers (PSPs) and banks to navigate a fast-changing state-level patchwork while maintaining customer trust.

Early preparation will help organisations manage these risks in 2026, and international firms must consider the evolving regulatory landscape when deciding whether to enter or remain in the US market.

Major AML Reform On Horizon As US Seeks To Cut Compliance Burden

Recent legislative and regulatory developments indicate that wholesale modernisation of the US federal anti-money laundering/counter-terrorism financing (AML/CTF) framework is approaching.

For financial institutions, AML/CTF modernisation could be a double-edged sword. The changes could reduce reporting burdens, streamline compliance, and shift the focus of financial institutions toward high-risk activities in 2026. At the same time, state-level divergence may create new operational challenges, making early preparation critical.

The STREAMLINE Act, introduced in the US Senate in October 2025, would increase reporting thresholds for currency transaction reports (CTRs) and suspicious activity reports (SARs) under the Bank Secrecy Act (BSA).

Currently, financial institutions are required to file CTRs for cash transactions exceeding $10,000 and SARs for transactions exceeding $2,000 or $5,000, depending on circumstances. The bill raises these thresholds to $30,000, $3,000 and $10,000, respectively, with the Treasury Department mandated to adjust amounts every five years to account for inflation.

Lawmakers argue that these changes will allow institutions to focus on material financial crime rather than low-value filings.

Complementing the STREAMLINE Act, the Federal Deposit Insurance Corporation (FDIC) and the Financial Crimes Enforcement Network (FinCEN) have surveyed banks on AML/CTF compliance costs and issued FAQs clarifying SAR filing requirements. These efforts aim to reduce o

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