Chile: Anti-monopoly Court Rules to Keep Crypto Exchanges’ Bank Accounts Open

The Chilean anti-monopoly justice has again postulated insurance to internal cryptocurrency exchanges by forcing banks to keep their accounts open, financial news opening Diario Financiero reported Jan. 2.

According to a new statement from — one of the crypto exchanges influenced by formerly inspected banking restrictions — the anit-monopoly justice famous as the Tribunal de Defensa de la Libre Competencia (TDLC) has hold a poll, and most of the members voted in preference of the crypto firms.

The subsequent few hearings are scheduled for February, when the TDLC will hear the testimony of both parties. The hearings will be attended by Chilean tip officials, including the country’s Minister of Finance, Felipe Larrain, Minister of Economy, Jose Ramon Valente, and the boss of the country’s banks association, Segismundo Schulin-Zeuthen.

The TDLC has responded to a previous decision taken by the Chilean Supreme Court in early December. The country’s tip justice then insisted that banks had authorised rights not to yield services to crypto exchanges, as they are not regulated by Chilean law and might be compared with money laundering.

As a consequence, Banco del Estado and Itau Corpbanca — the banks seeking to tighten crypto-related accounts — appealed to the anti-monopoly court, propelling it to cancel insurance measures. However, in the stream resolution, the TDLC simplified that the Supreme Court’s statute does not emanate a authorised fashion to uplift any of the prior resolutions.

As Cointelegraph formerly reported, last Mar crypto exchanges CryptoMKT, and OrionX claimed that their bank accounts were solidified by several Chilean banks. TDLC shortly granted them protection, and the country’s Minister of Finance betrothed to come up with applicable crypto regulation as shortly as possible. Nonetheless, in December, Larrain claimed that the authorised horizon for crypto is still in progress.

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