Chile Blocks Exchanges Accounts, Practically De Facto Banning Crypto Trading

Chile Blocks Exchanges Accounts, Practically De Facto Banning Crypto Trading

Chile Blocks Exchanges Accounts, Practically De Facto Banning Crypto Trading

BancoEstado

The Chilean government seems to be moving in the same direction as certain countries such as China, Russia, and Kazakhstan – de facto banning the operation of crypto exchanges. According to local media, this Thursday, the three main exchanges operating in the country: OrionX, Buda (formerly known as SurBTC) and CryptoMKT received a statement in which BancoEstado (officially: State Bank of Chile) announced the closure of their checking accounts in 10 days.

This decision is critical because BancoEstado is the only public bank in the country. Previously, other banks in which the exchanges had funds –  …

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