Chilean Cryptocurrency Exchanges Take Banking Blockade to Appeals Court
Chile’s largest cryptocurrency exchanges, Buda, CryptoMarket (Crypto MKT), and Orionx recently applied to an appeals court to confront a banking blockade they’re currently facing.
As covered by CCN, the cryptocurrency exchanges recently saw Itau Corpbanca, Bank of Nova Scotia, and the state-owned bank Banco del Estado de Chile shutdown their accounts with no proper explanation. At the time, Banco Estado revealed it decided “not operate with companies that are dedicated to the issuance or creation, brokerage, intermediation or serve as a platform for the so-called cryptocurrencies.”
The appeals court agreed to hear the cryptocurrency exchanges, although their bank accounts remain closed. Per Bloomberg, Chile’s financial institutions are seemingly implementing a blanket ban on the cryptocurrency industry, a move that’s worrying crypto enthusiasts.
Chile’s largest cryptocurrency exchanges, Buda, CryptoMarket (Crypto MKT), and Orionx recently applied to an appeals court to confront a banking blockade they’re currently facing.
As covered by CCN, the cryptocurrency exchanges recently saw Itau Corpbanca, Bank of Nova Scotia, and the state-owned bank Banco del Estado de Chile shutdown their accounts with no proper explanation. At the time, Banco Estado revealed it decided “not operate with companies that are dedicated to the issuance or creation, brokerage, intermediation or serve as a platform for the so-called cryptocurrencies.”
The appeals court agreed to hear the cryptocurrency exchanges, although their bank accounts remain closed. Per Bloomberg, Chile’s financial institutions are seemingly implementing a blanket ban on the cryptocurrency industry, a move that’s worrying crypto enthusiasts.