In this article, we are interested in examining the factors that drive cybernationalism and digital governance in media policies. As scholars with a long-standing interest in media industries and policies in Latin America, we start with a simple empirical observation: the curious absence of debates and strong efforts to regulate digital media in the region grounded on nationalistic arguments. It is not exaggerated to affirm that for the past two decades, the region has largely adopted a laissez-faire, deregulatory approach on fundamental issues about the structure and functioning of the Internet, including the performance of global digital platforms, content traffic, data ownership and access, and speech. We believe that understanding the decades-long transition from nationalistic media regulations to pragmatism in digital policies in Latin America yields valuable insights for theorizing the conditions that foster (and discourage) nationalism and sovereignty in digital policies.