In Chile, the development of cryptocurrencies has experienced notable growth in recent years, driven by technological adoption, investor interest, and significant regulatory advancements.
**Adoption and Use of Cryptocurrencies**
The adoption of cryptocurrencies in Chile has increased considerably, with a growing number of people using them as a method of investment, savings, and means of payment. According to an interview with María Fernanda Juppet, CEO of CryptoMKT, factors such as inflation and the search for safer methods to transfer money have incentivized this trend.
**Regulation and Legal Framework**
An important milestone in the development of cryptocurrencies in Chile was the enactment of the **Fintech Law** in January 2023. This law establishes a regulatory framework for technological financial services, including those related to crypto assets, promoting competition and financial inclusion through innovation and technology.
The Fintech Law recognizes crypto assets as a digital representation of value, goods, or services that can be transferred, stored, or exchanged digitally, excluding national currency or foreign currencies. Additionally, it introduces the possibility for the Central Bank of Chile to issue a digital currency backed by the institution, known as "digital peso".
**Challenges and Future Perspectives**
Despite the advancements, challenges persist in terms of specific regulation and mass adoption. The effective implementation of the Fintech Law and the adaptation of traditional financial institutions will be crucial for the sustainable development of the cryptocurrency ecosystem in Chile.
In summary, Chile has made significant progress in the development and adoption of cryptocurrencies, backed by a growing interest from the population and an evolving regulatory framework that seeks to balance innovation with consumer protection and financial stability.