Chilean Crypto Exchanges Taking Banks to Appeals Count Amid Account Closure


Following the Chilean banks’ closure of accounts held by cryptocurrency businesses, three crypto exchanges of the South American country – Buda, CryptoMarket (CryptoMKT), and Orionx – have recently applied to an appeals court to appeal the banks’ decisions, as reported by Bloomberg.

The self‐restriction of any involvement with crypto business by Chilean banks started last month. Itau Corpbanca and Bank of Nova Scotia were the first banks to close the accounts of BUDA and CryptoMKT on March 19th, according to local news outlet Emol. This decision was followed by a similar decision taken by the state‐owned bank Banco del Estado de Chile, which announced the closure of bank accounts held by all the three crypto exchanges.

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