Photographer: Akos Stiller/Bloomberg
cryptocurrencies

Chilean Court Orders Banks to Re-Open Crypto Exchange Accounts

  • Banks closed accounts of crypto exchanges earlier this month
  • Banks must re-open accounts while case is being heard

Chilean cryptocurrency trading platform Buda just persuaded a court to order a detente in its dispute with banks.

Chile’s anti-monopoly court ordered Banco del Estado de Chile and Itau Corpbanca to re-open Buda’s accounts while the exchange’s lawsuit continues against 10 banks, including these two, according to the ruling published on the court’s website. Buda sued after what it said was “arbitrary” and “unjustified” closing of its accounts.

Earlier this month, Chilean lenders said they would shutter the accounts of crypto exchanges Buda, Orionx and CryptoMarket. Itau Corpbanca Chief Executive Officer Milton Maluhy said further regulation of cryptocurrencies was needed.

    Before it's here, it's on the Bloomberg Terminal. LEARN MORE