Chilean Cryptocurrency Exchanges Seek Clear Regulations

Two Chilean cryptocurrency exchanges, BUDA and Crypto MKT, recently saw a number of banks in the country shut down their accounts for dealing with cryptocurrencies. In response, the companies decided to call on the country’s banking association, Asociación de Bancos e Instituciones Financeras (ABIF), to clarify its stance on the cryptocurrency industry.

According to local news outlet PULSO, the two cryptocurrency exchanges issued a public statement in which they ask the regulator to provide a clear stance, as the banks shut down their accounts while claiming they had instructions to “not open an account for anyone that has relation to cryptocurrencies.”

The statement further claims the financial institutions lack knowledge of how cryptocurrencies work, and questions why their accounts were shut down.

Reference: https://www.ccn.com/chilean-cryptocurrency-exchanges-ask-for-clear-regulations-after-banks-close-their-accounts/

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