This jurisdiction has evolving or restrictive regulations that require careful compliance. Additional licensing, reporting, or operational constraints may apply.
Chile Cryptocurrency Regulatory Overview
Chile has a cautious approach to crypto with evolving regulations.
Chile Blockchain Compliance Requirements
Crypto exchanges must comply with AML requirements. No specific licensing framework yet.
Crypto Licensing Requirements in Chile
Crypto businesses, specifically Virtual Asset Service Providers (VASPs) offering intermediation and custody services, must register with the CMF under the Fintech Law (Ley 21.521). While a distinct "VASP license" is not issued, registration requires compliance with CMF regulations, including operational risk management and corporate governance policies, and adherence to AML/KYC standards set by the UAF.
Cryptocurrency Tax Treatment in Chile
Cryptocurrency is treated as an intangible asset, not currency. Profits from crypto transactions, mining, and staking are subject to taxation as general income under the Servicio de Impuestos Internos (SII) guidance. The general corporate tax rate is 27%, and personal income tax applies to individuals.
Crypto Banking Access in Chile
Limited banking access.
Official Sources & Regulatory References
https://coinpedia.org/cryptocurrency-regulation/crypto-regulations-in-chile-2024/, https://cms.law/en/int/expert-guides/cms-expert-guide-to-crypto-regulation/chile, https://www.cmfchile.cl/portal/principal/613/w3-article-60379.html, https://lukka.tech/how-chile-taxes-cryptocurrencies/, https://www.fintax.tech/blog-posts/everything-you-need-to-know-about-chiles-crypto-tax-and-regulatory-system, https://phemex.com/news/article/chile-establishes-comprehensive-crypto-tax-and-regulatory-framework-38658, https://multilaw.com/Multilaw/ZENTSO/BusinessGuides/Presentation/Section_Home.aspx?GuideId=2&GuideCountry=Chile&GuideSection=242
AML/CFT requirements may be stringent or evolving. Enhanced due diligence may be required.
Enforcement actions may be unpredictable or strict. Monitor regulatory developments closely.
Disclaimer: This information is provided for general guidance only and should not be considered legal advice. Regulations change frequently. Always consult with qualified legal professionals in the relevant jurisdiction before making business decisions.