Chile-based peer-to-peer remittance company CurrencyBird has joined RippleNet, Ripple’s global blockchain-based network of payment providers, according to an announcement published on July 25. CurrencyBird has thus ostensibly become the first Chilean payments company to join RippleNet, a network of institutional payment-providers such as banks and money services businesses that use solutions developed by Ripple to send money globally. The company states in the post that the partnership will allow it to add new routes to its more than 50 already existing destinations, new currencies, better prices and faster transfer speeds. In 2018, family remittances in Latin America and the Caribbean …

The Minister of Finance of the Chilean government Felipe Larraín announced the introduction of a bill regulating cryptocurrencies and fintech to Congress, Cointelegraph Spain reported on April 15. During his recent stay in the United States, Larraín reportedly noted that the requirements introduced by the new regulation will be proportional to businesses. He explained that the rules will take into account that various companies have different business models, and deliver different services that imply different risks for the users and the financial market. Local media outlet Ahora Noticias reported that flexibility is among the most important aspects of the bill, …

The Central Bank of Chile (BCC) believes that cryptocurrencies are unable to substitute traditional money, according to an in-depth report on crypto issued Feb. 7. The document, signed by the central bank’s president Mario Marcel, was prepared upon request of the Tribunal de Defensa de la Libre Competencia (TDLC). The TDLC is an independent anti-monopoly institution established to ensure that free competition rules are not violated in Chile. The organization actively participated in a recent legal battle between Latin American crypto exchanges and Chilean banks. As per the BCC, Bitcoin (BTC) and other major cryptocurrencies that were created as alternatives …

Chilean taxpayers must report their cryptocurrency profits to the Chilean Internal Revenue Service (SII), Spanish crypto media Diario Bitcoin reports on Jan. 17. The SII reportedly decreed in 2018 that digital currencies weren’t subject to Value Added Tax (VAT), but should still be considered when calculating annual income tax, as they fall into the definition of intangible assets. Because of this consideration, the dedicated income tax form 22 will reportedly include — for the first time — a special section dedicated to “other own and/or third-party income from companies that declare their effective income and do not declare it to …

The Chilean anti-monopoly court has again granted protection to local cryptocurrency exchanges by forcing banks to keep their accounts open, financial news outlet Diario Financiero reported Jan. 2. According to a recent statement from Buda.com — one of the crypto exchanges affected by previously upheld banking restrictions — the anit-monopoly court known as the Tribunal de Defensa de la Libre Competencia (TDLC) has held a poll, and most of its members voted in favor of the crypto firms. The next few hearings are scheduled for February, when the TDLC will hear the testimony of both parties. The hearings will be …

The Chilean General Treasury of the Republic (TGR), which oversees tax collection in the country, has launched a blockchain platform to process payments, according to a press release published Dec. 19. TGR — a dependent institution under the Ministry of Finance — reportedly first met with the Digital Government Division of the Ministry General Secretariat of the Presidency of Chile to discuss the pilot in October, 2018. At that time, officials announced they would create a blockchain platform to connect citizens, financial intermediaries and suppliers. According to the December statement, the pilot for the platform has now been launched. The …

Two major Chilean banks have urged the country’s anti-monopoly court to revoke its decision that prevents the closure of local crypto exchanges’ banking accounts. This development was reported by Chilean newspaper La Tercera on Thursday, Dec. 20. Banco del Estado and Itau Corpbanca took legal action following the recent Supreme Court ruling against Chilean crypto exchange OrionX: the decision stated that banks have the legal right not to provide services to crypto firms. However, the previous ruling of the Tribunal de Defensa de la Libre Competencia (TDLC) — the country’s anti-monopoly court — still stands and grants protection to crypto …

Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week US SEC Delays Bitcoin ETF Decisions, Changes Deadline to Late February The United States Securities and Exchange Commission (SEC) has again postponed its decision regarding approval for a Bitcoin (BTC) exchange-traded fund (ETF) this week. According to a document released by the SEC, the new deadline is Feb. 27, 2019, and they will …

On Monday, Dec. 4, the Chilean Supreme Court welcomed the decision of state-owned Banco del Estado to close the accounts of local cryptocurrency exchange Orionx. The new phase in the legal battle between the banks and several crypto exchanges — including Buda.com and CryptoMarket (CryptoMKT), which had appealed against the denial of services — may look somewhat sinister from the outside. But the main players of the Chilean crypto market assured Cointelegraph that the recent decision could not prevent them from operating in the country. Exchanges vs. banks — a brief outline of the confrontation In March, two crypto exchanges …

The Chilean Supreme Court has ruled against crypto exchange Orionx, allowing a state-owned bank to close its account, local news outlet Emol reported Dec. 4. The third chamber of the high court has revoked the decision taken in July that had guaranteed protection to Orionx and forced local state-owned bank Banco del Estado to reopen its account. The new judgement cited by Emol states that the bank acted correctly and did not violate any rules of the Chilean constitution. In the decision, the judge also claimed that cryptocurrencies “have no physical manifestation and no intrinsic value.” The document states that …

The results of the first Financial Knowledge Index conducted in Chile reveal that only 39 percent of citizens have ever heard of cryptocurrencies, according to a paper published Tuesday, Oct. 16, by the Chilean Central Securities Depository (DCV). Consulting company Cadem, which performed the research on behalf of DCV, interviewed almost thousand citizens, both men and women, in 15 regional capitals. The questionnaire included a section on cryptocurrency awareness. According to the paper, Chilean men know more about cryptocurrencies, particularly Bitcoin (BTC), with 51 percent saying they've heard of digital coins before. The situation with women is slightly lower, with …

Two Chilean deputies have presented a resolution on blockchain adoption to the lower house of the country’s parliament (Camara de Diputados) on Thursday, October 4, local news website Fortin Mapocho reported. The proposed blockchain resolution project was first registered in late August. In the project proposal, the two presenting members of parliament (MPs) Miguel Angel Calisto and Giorgio Jackson, along with eight other MPs, appeal to the Chilean president Sebastian Pinera, urging him to implement blockchain in all public areas of the country. The document also offers to carry out studies on the advantages of blockchain-based security and energy solutions. …