Earlier this week, Chilean Finance Minister Felipe Larraín announced that the Santiago government would send a bill to the congress governing Fintech and cryptocurrency, according to local media.
The politician substantiated the need for regulation in diverse, changing forms of business related to cryptocurrency, as well as the need for regulation in accordance with the services offered and risks for users and financial markets.
Interesting in the section: WAX - worldwide exchange of assets
Adoption of the bill
Larrain is confident that the bill can be passed by congress this year. The Chilean economist seems to draw conclusions from some of the old stereotypes about crypto, since he stated that: "Regulating these platforms will help mitigate some of the risks, such as money laundering or terrorist financing."
However, about the positive impact of the regulation on crypto: "It would also increase the legal certainty with which the platforms operate."
The Minister of Finance of Chile announced that the government of Santiago would send a cryptocurrency bill to Congress. Although not having access to specific regulations, it still seems rather early to classify this as good news, the development is complemented by other milestones that accelerate the implementation of crypto in Latin America.
Editor: Yulia Krasnaya