Andorra vs Chile
Crypto regulation comparison
Andorra
Chile
Legal
Legal
Andorra enacted the Digital Assets Act (Law 24/2022) providing a comprehensive framework for crypto. The AFA licenses exchanges, custodians, and stablecoin issuers. Aligning with EU MiCA.
Chile passed a Fintech Law (Ley 21,521) in January 2023, establishing a regulatory framework for crypto service providers. The CMF is developing implementing regulations for virtual asset platforms. Crypto gains are taxed under general income tax rules.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
0-40%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Andorran Financial Authority (AFA)
Regulator
CMF (Comisión para el Mercado Financiero)
Stablecoin Rules
Regulated under Digital Assets Act with specific stablecoin licenses
Stablecoin Rules
To be addressed under the Fintech Law implementing regulations
Key Points
- Digital Assets Act (Law 24/2022) effective Oct 2022
- AFA licenses and regulates all digital asset service providers
- Three categories of stablecoins with specific licensing requirements
- Low electricity costs make mining attractive
- Aligning regulations with EU MiCA framework
Key Points
- Fintech Law (Ley 21,521) passed in January 2023 covers crypto service providers
- CMF designated as regulator for crypto platforms under the new law
- Crypto exchanges must register and comply with AML/KYC requirements
- Capital gains on crypto taxed under general income tax at progressive rates up to 40%
- Chile has an active crypto market with exchanges like Buda.com operating since 2015