A fintech-related bill that seeks to bring clarity to institutions operating digital and cryptocurrency services in Chile, has been approved by the deputy chamber of congress.
A fintech bill, which seeks to regulate fintech and cryptocurrency-related activities in Chile, has been approved by the deputy chamber of the congress, leaving it ready to be sanctioned by the president of Chile, Gabriel Boric. According to individuals in the sector, the bill is directed to stimulate innovation and competition in an unregulated market.
services.” It also broadens the regulatory reach of the Financial Market Commission to include the supervision of cryptocurrency exchanges and cryptocurrency custody providers. I would like to emphasize that it is a project that does not seek to favor a particular sector, it seeks to promote competition and allow institutions that are different from our traditional banking or traditional financial retail to compete by providing cheaper financial services to the public, it is a pro-competition project.
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