[2018-04-18] Chilean Banks Close Cryptocurrency Exchange Accounts

[Vladdirescu87]

Banks in Chile, South America’s wealthiest country, have a huge impact on cryptocurrency exchanges by closing the accounts held by trading platforms.
The Chilean trading platforms Orionx, CryptoMarket and Buda are trying everything possible to find ways of continuing their operation in the country after Bank of Nova Scotia, Itau Corpbanca and state-owned Banco del Estado de Chile closed their accounts in March without giving any explanation. Banco Estado disclosed that it had decided “not to operate with companies that are dedicated to the issuance or creation, brokerage, intermediation or serve as a platform for the so-called cryptocurrencies.”
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/chilean-banks-close-cryptocurrency-exchange-accounts/

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[1Referee]

Once again another sign of how people and businesses aren't able to decide for themselves how and what they can use their money for. Seriously, why do we still trust or use these shitty banks? I hope that one day, when Bitcoin becomes a bit more usable as currency, and the infrastructure allowing us to spend Bitcoin and pay bills, we will no longer have to deal with banks. Based on this, it again becomes clear why Tether is what it is today. It's not for nothing that the largest exchanges are all Tether based. If banks don't want our business, then we shouldn't give them any business, period. Let them bleed till they feel so bad (because that's the only way to smash sense into them), that they will reverse their actions.

[entrepmind23]

It is an undeniable fact that banks hate cryptocurrencies that's why it is not surprising to see them making this move. In our country too, some banks close the accounts of some account holders because they can track that they are sending and receiving to a trading exchange. When the people decide to ask for them any ruling why their accounts are closed, they cannot give any and just stated that they do not the account holders to have something to do with cryptocurrencies.

If the banks keep doing this and more people use crypto then eventually, their funds would be lesser because more people would opt to just hold their money or deposit it into the bank who support cryptocurrency. It would backfire into them and if they are still firm with their decision then there may come a time when they have to close business.

[Carlton Banks]

Chile, check this out: Bisq

No-one can shut down decentralised exchanges