Bhutan vs Chile
Crypto regulation comparison
Bhutan
Chile
Legal
Legal
Bhutan has quietly become a significant Bitcoin miner through its government investment arm, Druk Holding & Investments, leveraging hydroelectric power. No tax on crypto.
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
No tax
Tax Type
Capital gains
Tax Rate
0%
Tax Rate
0-40%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Royal Monetary Authority of Bhutan
Regulator
CMF (Comisión para el Mercado Financiero)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
To be addressed under the Fintech Law implementing regulations
Key Points
- Government entity Druk Holding & Investments mines Bitcoin
- Hydroelectric power used for mining operations
- No income or capital gains tax in Bhutan
- Royal Monetary Authority provides oversight
- One of the few countries with state-level crypto mining operations
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