The Chilean president, Mario Marcel, has made comment seemingly in favor of developing a regulatory apparatus for virtual currencies. The apparent openness to regulating cryptocurrencies contrasts significantly from the recent banking embargo targeting virtual currency recently witnessed in Chile.
Chilean President Discusses Benefits of Regulating Cryptocurrencies
During a forum recently held by Chile’s Finance Commission of Deputies, President Marcel made comments indicating that his administration is considering developing a legislative apparatus designed to regulate and monitor activities pertaining to Chile’s cryptocurrency sector. Presently, cryptocurrencies are entirely unregulated in Chile, and are not legally recognized as a means of exchange or securities.