Chile vs Costa Rica
Crypto regulation comparison
Chile
Costa Rica
Legal
No Regulation
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.
Costa Rica has no specific cryptocurrency legislation. The Central Bank has stated crypto is not legal tender and not backed by the government, but has not prohibited its use. Some businesses accept Bitcoin, and there is a growing crypto community, particularly in tech-focused areas.
Tax Type
Capital gains
Tax Type
Unclear
Tax Rate
0-40%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CMF (Comisión para el Mercado Financiero)
Regulator
BCCR (Banco Central de Costa Rica), SUGEF
Stablecoin Rules
To be addressed under the Fintech Law implementing regulations
Stablecoin Rules
No stablecoin-specific regulation
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
Key Points
- No specific cryptocurrency legislation exists
- BCCR does not recognize crypto as legal tender but has not banned it
- Crypto businesses operate in a legal gray area without formal licensing
- A Bitcoin and crypto community has emerged, especially around tech hubs
- Tax obligations on crypto gains are unclear due to lack of specific guidance