President of Chile’s Central Bank Wants to Regulate Cryptocurrencies “to Monitor the Associated Risks”

spain-2452272_1920.jpg

The president of Chile’s central bank, Mario Marcel, wants to regulate cryptocurrencies “to monitor the associated risks,” reported Cointelegraph on May 16.

Currently, there are no laws in Chile to prevent Chileans to exchange cryptocurrency for goods and services as cryptos are not considered as money or securities.

Marcel mentioned at a forum of the Finance Commission of Deputies,

“Incorporating regulation will allow having a registry of participants in these activities and thus have information to monitor the associated risks. These activities could be developed under more robust standards and mechanisms, especially in terms of market transparency, consumer protection, and prevention of money laundering and terrorist financing.”

At the beginning of March, Chile announced that it was implementing blockchain technology to their energy grid.

Leave a Reply