Regulator: Central Bank of Chile (BCCh), Financial Market Commission (CMF), Internal Revenue Service (SII)
Fintech Law 21,521 enacted 2023; operational; legally recognizes fiat-backed stablecoins as payment instruments under distributed ledger technologies; Central Bank of Chile (BCCh) and CMF (Financial Market Commission) primary regulators; not legal tender but permitted for payments by mutual agreement; licensing required by February 3, 2025 for all crypto providers (exchanges, custodians, brokers, advisors); $400 registration fee; 6-month assessment (cybersecurity, solvency, governance); open finance framework supports interoperability via standardized APIs; stablecoins regulated as payment methods by BCCh; functional approach rather than rigid classifications; tax regime treats crypto as investment assets.
Applicable Laws:
Fintech Law (Law 21.521) - https://practiceguides.chambers.com/practice-guides/blockchain-2025/chile/trends-and-developments
