{"id":540439,"date":"2026-06-08T16:01:07","date_gmt":"2026-06-08T15:01:07","guid":{"rendered":"https:\/\/cryptoslate.com\/?post_type=crypto_law&#038;p=540439"},"modified":"2026-06-08T16:12:46","modified_gmt":"2026-06-08T15:12:46","slug":"chile-fintech-law-21521-cryptoassets","status":"publish","type":"crypto_law","link":"https:\/\/cryptoslate.com\/crypto-laws\/chile-fintech-law-21521-cryptoassets\/","title":{"rendered":"Chile Fintech Law No. 21,521: Cryptoasset and Financial Technology Provisions"},"content":{"rendered":"<p>Chile\u2019s Fintech Law, Law No. 21,521, is the country\u2019s core statute for technology-based financial services and a key legal reference for cryptoasset activity that falls within Chile\u2019s financial-market perimeter. Published in January 2023 and generally effective from February 2023, the law gives the Comisi\u00f3n para el Mercado Financiero (CMF) supervisory authority over regulated fintech services and uses a definition of \u201cvirtual financial assets or cryptoassets\u201d within its broader treatment of financial instruments. As of June 8, 2026, the law is partially effective: the Title II regime for financial technology service providers is in force, while the Open Finance system remains in phased implementation.<\/p>\n<h3>How Law No. 21,521 treats cryptoassets<\/h3>\n<p>The statute defines virtual financial assets or cryptoassets as digital representations of units of value, goods, or services, excluding money in national or foreign currency, that can be transferred, stored, or exchanged digitally. It also defines a financial instrument to include an intangible asset designed, used, or structured to generate monetary returns, represent unpaid debt, or represent a virtual financial asset.<\/p>\n<p>This structure does not create a stand-alone crypto exchange statute. Instead, cryptoasset-related activity becomes relevant when a token, platform, advisory activity, custody arrangement, transaction system, or intermediation model fits within the law\u2019s defined financial-technology services or within CMF rules issued to implement the law.<\/p>\n<h3>Regulated financial technology services<\/h3>\n<p>Title II brings specified technology-based financial services within the CMF perimeter. The regulated services are:<\/p>\n<ul>\n<li>crowdfunding platforms;<\/li>\n<li>alternative transaction systems;<\/li>\n<li>credit advisory and investment advisory services;<\/li>\n<li>custody of financial instruments;<\/li>\n<li>order routing; and<\/li>\n<li>intermediation of financial instruments.<\/li>\n<\/ul>\n<p>For cryptoasset market participants, the most relevant categories are likely to be alternative transaction systems, intermediation, custody, order routing, and investment advice, depending on the facts of the service and the instrument involved.<\/p>\n<h3>Registration, authorization, and conduct standards<\/h3>\n<p>Professional providers of the regulated services generally must be entered in the CMF\u2019s Registro de Prestadores de Servicios Financieros and, for several activities, obtain authorization before beginning the service. The law also allows certain already supervised financial institutions to provide specified fintech services under their existing regulatory perimeter or supplementary CMF rules.<\/p>\n<p>The statute assigns CMF rulemaking authority for registration, authorization, information delivery, governance, risk management, capital, guarantees, operational capacity, and related obligations. NCG No. 502, issued in January 2024 and effective from February 3, 2024, is the central CMF rule for the Title II provider regime. Later CMF updates refined those rules, including amendments for existing supervised institutions that provide fintech services without separate registration.<\/p>\n<h3>Custody, AML\/CFT, and reporting touchpoints<\/h3>\n<p>The custody provisions are important for cryptoasset-linked instruments because the law defines custody as holding financial instruments, money, or foreign currency for or on behalf of third parties in connection with financial-instrument flows, sales, purchases, or collateral. Intermediaries, order routers, and custodians may become subject to guarantee, minimum capital, governance, risk-management, cybersecurity, and information-security standards when statutory thresholds and CMF rules apply.<\/p>\n<p>The law also amends Chile\u2019s anti-money laundering framework. It adds certain registered financial service providers and payment-initiation providers to the reporting perimeter of Law No. 19,913 and allows the Unidad de An\u00e1lisis Financiero to issue differentiated and proportional instructions based on the nature and risk of the relevant operations. Separately, providers of Article 2 services must report annually to Chile\u2019s tax authority on customer balances and transactions involving covered financial instruments.<\/p>\n<h3>Open Finance implementation<\/h3>\n<p>Title III creates Chile\u2019s Sistema de Finanzas Abiertas, a consent-based open finance framework for the secure exchange of customer financial data and payment-initiation services. CMF issued NCG No. 514 in July 2024 to regulate the system. In June 2026, CMF amended that rule, incorporated a technical annex, and postponed entry into force to July 2027, with greater implementation graduality and testing arrangements.<\/p>\n<p>This profile is a legal-reference summary of the cryptoasset and fintech-facing provisions of Law No. 21,521. It does not address every amendment made by the law and should not be read as legal, tax, investment, or compliance advice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chile\u2019s Fintech Law brings technology-based financial services, including cryptoasset-linked instruments, under CMF oversight, with Open Finance still phasing in.<\/p>\n","protected":false},"author":1652,"featured_media":540441,"template":"","meta":[],"crypto_law_jurisdiction":[82230],"crypto_law_topic":[81505,81611,81869,81870,81610],"crypto_law_status":[81534],"crypto_law_type":[81544],"crypto_law_actor":[82233,82231,82234,82232],"crypto_law_asset_class":[81679,82236,82235],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chile Fintech Law No. 21,521: Cryptoasset Rules<\/title>\n<meta name=\"description\" content=\"Chile\u2019s Fintech Law No. 21,521 regulates fintech services and 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