Chile Court Says Banks Can Ban Crypto Exchanges

On December 6, the Third Chamber of the Chilean Supreme Court officially sided with the state-owned BancoEstado after it banned a local crypto exchange by shutting down its bank account.

Orionx, a digital asset trading platform based in Chile, filed an appeal with the supreme court following an abrupt termination of its account by BancoEstado. Ultimately, the court ruled the case in favor of the bank, reaffirming that the bank cannot obtain sufficient information to monitor transactions and determine the identities of the senders of crypto payments.


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