Cryptocurrency is legal in Costa Rica, though not recognized as legal tender by the Central Bank of Costa Rica. The BCCR established that crypto assets are not prohibited by law and their use is permitted under the constitutional principles of freedom, provided transactions serve lawful purposes (1). Investment in crypto assets is protected by articles 28, 45, and 46 of the Political Constitution, though the central bank does not recommend accepting cryptocurrencies as payment since they lack legal tender status (1).
Costa Rica's Legislative Assembly advanced comprehensive cryptocurrency regulation in July 2025 through bill 22.837, which passed its first debate after being introduced by former President Carlos Alvarado Quesada's administration. The proposed legislation mandates that all virtual asset service providers operating in Costa Rica must register with the Superintendencia General de Entidades Financieras, the country's financial regulator (2). SUGEF will supervise entities using a risk-based approach focused on anti-money laundering compliance, though registration does not constitute government authorization to operate but ensures adherence to AML protocols (2).
"The legislation defines a virtual asset as any digital representation of value that can be traded or transferred online, regardless of its status as legal tender in Costa Rica."
The General Directorate of Taxation issued Office MH-DGT-OF-0460-2023, which conceptualizes cryptocurrencies as virtual assets or intangible assets subject to Income Tax or the Tax on Capital Income and Capital Gains and Losses, depending on taxpayer activities. Users acquire crypto assets at their own risk without legal recourse for losses caused by volatility, as consumers lack legal instances to seek compensation for capital losses (1). The Central Bank, along with the National Council for the Supervision of the Financial System and financial sector superintendencies, monitors crypto asset evolution to determine potential risks to financial system stability or obstacles to monetary policy implementation (1).
Source:
https://multilaw.com/Multilaw/ZENTSO/BusinessGuides/Presentation/Section_Home.aspx?GuideId=2&GuideCountry=Costa+Rica&GuideSection=281
https://ticotimes.net/2025/07/02/costa-rica-moves-forward-with-crypto-regulation-to-combat-financial-crime
Last updated: 18-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
