• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • PPP MENA Forum, UAE (September 10-11, 2025)
    • WFIS, Philippines (September 23-24, 2025)
    • Fintech Revolution Summit, Vietnam (September 24, 2025)
    • CoinFerenceX, Singapore (September 29-30, 2025)
    • ChainUp, Singapore (September 30, 2025)
    • TOKEN2049, Singapore (October 1-2, 2025)
    • Forex Expo Dubai (October 6-7, 2025)
    • Merge Madrid (October 7-9, 2025)
    • European Blockchain Convention, Barcelona (October 15-17, 2025)
    • HODL, Dubai (October 30-31, 2025)
    • Blockchain Futurist Conference, Florida (November 5-6, 2025)
    • Fintech Revolution Summit, Saudi Arabia (November 3, 2025)
    • Mining Disrupt, Dallas (November 11-13, 2025)
    • WFIS, Indonesia (November 25-26, 2025)
  • Past Events
    • Blockchain Life
    • BlockShow Europe
    • Event Horizon

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies

Join us on Telegram: https://t.me/crypto_reporter
Visit European Blockchain Convention, Barcelona on October 16-17, 2025
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

Central Bank of Chile: Cryptocurrency is not likely to replace traditional money

February 17, 2019 By Crypto Reporter

There’s no immediate proof that bitcoin will become a fully-fledged cryptocurrency, believes a Latin-American regulator.

According to a report published by Central Bank of Chile (Banco Central de Chile(BCC)), digital money is too immature and only at the beginning of its development phase to be a likely replacement for fiat currency.

“At the moment there’s no evidence to conclude that bitcoin or any other cryptocurrency can be a substitute for fiat currency,” states the report.

The BCC added that blockchain growth is not easy to evaluate and digital assets considerably give way to traditional currencies. Transaction processing on most networks is slow, whereas the number of companies accepting bitcoin is inconsiderable.

But this could change in the future if technological and legal limitations decline and allow for broader mass adoption and greater utility, mentions the same report referencing the Bank for International Settlements (BIS).

Yet, in 2019, customers of the following companies have got a chance to pay with digital money – H&M Distributors, GridPlus Energy, as well as Argentina’s public transport. In January Bitcoin transactions volume reached 9 million, the highest since December 2017.

Filed Under: General News, News Tagged With: bitcoin, Chile, cryptocurrency, news

Primary Sidebar

Follow Us

Press Releases

Bitcoin Price Prediction: BTC Could Climb Modestly to $130,000 as Ethereum (ETH) and Little Pepe (LILPEPE) Gear Up for Major Gains

September 2, 2025

Early Ozak AI Presale Entry Could Turn Small Stakes Into Huge Gains

September 2, 2025

Arlo AI Becomes First Project Accepted into Blockchain Conference’s Newly Formalized Incubator Program

September 2, 2025

Banana Pro: Crypto Trading Platform for Fast Solana Swaps, Sniping, and Multi-Wallet Control

September 2, 2025

Wyoming Reserve Partners with Global Gold to Launch First Fully Allocated U.S. Gold On-Chain

September 2, 2025

PPP MENA Forum

TOKEN2049

Forex Expo Dubai

Merge Madrid

HODL

Futurist Conference

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2025 Crypto Reporter