Chile vs Germany
Crypto regulation comparison
Chile
Germany
Legal
Legal
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.
Germany has one of the most well-defined crypto regulatory environments in Europe. BaFin has regulated crypto custody as a financial service since 2020. Notably, crypto held for over one year by individuals is completely tax-free, making Germany one of the most favorable jurisdictions for long-term holders.
Tax Type
Capital gains
Tax Type
Capital gains
Tax Rate
0-40%
Tax Rate
0-45%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CMF (Comisión para el Mercado Financiero)
Regulator
BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht)
Stablecoin Rules
To be addressed under the Fintech Law implementing regulations
Stablecoin Rules
Regulated under MiCA; BaFin already licensed crypto custody under existing German law since 2020
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
- Crypto held for more than 1 year is completely tax-free for individuals
- Short-term gains (under 1 year) taxed as income at up to 45% plus solidarity surcharge
- Annual exemption of €1,000 for short-term crypto gains (since 2024, previously €600)
- BaFin licenses crypto custody businesses under the KWG (German Banking Act) since January 2020
- MiCA framework applicable from December 2024, complementing existing German regulation