Chilean Cryptocurrency Exchanges See Banking Blockade

Three Chilean cryptocurrency exchanges, BUDA, Crypto MKT, and Orionx, are about to lose banking services as BancoEstado, the last bank supporting cryptocurrency exchanges in Chile, has announced
it’s closing the trading platforms’ accounts.

According to local news outlet El Mercurio, the financial institution decided to, for now, “not operate with companies that are dedicated to the issuance or creation, brokerage, intermediation or serve as a platform for the so-called cryptocurrencies.”

At the time, the exchanges noted one of the banks revealed it had instructions to “not open an account for anyone that has relation to cryptocurrencies.” BancoEstado was the only financial institution still working with the exchanges.

Reference: https://www.ccn.com/chilean-cryptocurrency-exchanges-left-without-banking-as-bancoestado-shutters-accounts/

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