Estonia's success and Chile's failure

A comparative analysis of cryptocurrency regulations and the impact on anti money laundering in Estonia and Chile

  • Monet Valdez California Western School of Law
Palavras-chave: anti-lavagem de dinheiro, blockchain, criptomoeda, FinTech, registro de distribuição, Chile, Estônia


This Article is a critical analysis of the lack of cryptocurrency regulations in Chile and offers gains Chile may have by implementing Estonia’s pro-cryptocurrency approach. Additionally, the absence of regulations in Chile is examined through the comparative lens of Chile and Estonia’s global ranking in anti-money laundering. Part A begins with a brief introduction to blockchain and financial technology. Parts B and C will discuss Estonia’s and Chile’s existing crypto attitudes. Part D will include recent histories of anti-money laundering efforts of both Estonia and Chile. Part E will assess other factors that may also be impacting Estonia’s decrease and Chile’s increase in economic crimes — like money laundering. Finally, Part F will discuss whether a “one size fits all” approach works, and, particularly, if Estonia’s success could transfer to a high-risk country like Chile through the adoption of pro-cryptocurrency legislation.

Como Citar
VALDEZ, M. Estonia’s success and Chile’s failure. DESC - Direito, Economia e Sociedade Contemporânea, v. 3, n. 1, p. 131-152, 30 set. 2020.