Cryptocurrency is legal in Chile under the comprehensive regulatory framework established by Law No. 21.521, known as the Fintech Law, which promotes financial competition and inclusion through innovation and technology. The law defines crypto-assets as digital representations of units of value, goods, or services that can be transferred, stored, or exchanged digitally, excluding national or foreign currency (1). The Financial Market Commission (Comisión para el Mercado Financiero, CMF) serves as the primary regulatory authority, requiring crypto-asset service providers to register and obtain authorization through General Rule No. 502 to operate legally in Chile (1).
Under Chile's regulatory framework, specific activities related to cryptocurrencies are explicitly regulated, including alternative transaction systems for exchanges, custody of financial instruments, investment advice, order routing, and brokerage of financial instruments. Service providers must complete a registration process with the CMF within 30 days and obtain operational authorization within six months, paying approximately USD 400 in registration fees (1). The Central Bank of Chile has issued regulations empowering it to oversee stablecoins that meet minimum standards for security, reliability, and acceptability as payment methods, positioning the country to integrate digital assets into its regulated financial system (2).
"By granting legal status to fiat-backed digital tokens that meet specific standards, Chile is not only enabling innovation but also ensuring these innovations are compatible with public oversight and systemic trust."
Chile's tax authority, Servicio de Impuestos Internos, treats cryptocurrencies as digital assets subject to income taxation, with capital gains taxed at progressive rates between 0-40% for individuals and approximately 27% for corporate mining operations. While cryptocurrencies are not recognized as legal tender, the CMF has stated they can function as means of payment if parties agree (1). The Central Bank published its second report in April 2024 detailing progress toward developing a Central Bank Digital Currency, concluding that a CBDC would contribute to a more competitive, innovative, inclusive, and resilient payment system (1).
Source:
https://cms.law/en/int/expert-guides/cms-expert-guide-to-crypto-regulation/chile
https://practiceguides.chambers.com/practice-guides/blockchain-2025/chile/trends-and-developments
Last updated: 18-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
