Following Chile's recent election of José Antonio Kast, comparisons have been drawn to El Salvador's adoption of Bitcoin under President Nayib Bukele. However, according to reports, Chile's approach to crypto is expected to be different due to its institutional and market structure. Unlike El Salvador's top-down approach, Chile's path is anticipated to be bottom-up and technocratic. The Central Bank of Chile (BCCh) has been cautious, focusing on CBDC analysis and the Fintech Act. The country's pension system, holding approximately $229.6 billion, requires regulated wrappers for new asset classes. Additionally, Chilean tax rules treat crypto as an income-taxable asset, suggesting adoption will occur through formal intermediaries rather than mandates.

Following Chile's recent election of José Antonio Kast, comparisons have been drawn to El Salvador's adoption of Bitcoin under President Nayib Bukele. However, according to reports, Chile's approach to crypto is expected to be different due to its institutional and market structure. Unlike El Salvador's top-down approach, Chile's path is anticipated to be bottom-up and technocratic. The Central Bank of Chile (BCCh) has been cautious, focusing on CBDC analysis and the Fintech Act. The country's pension system, holding approximately $229.6 billion, requires regulated wrappers for new asset classes. Additionally, Chilean tax rules treat crypto as an income-taxable asset, suggesting adoption will occur through formal intermediaries rather than mandates.