Cryptocurrency News

[Rawlens]

Chilean Court of Appeals Favors Crypto Exchange; Orders Banks to Restart Trading With Orionx – The Chilean Court Of Appeals has given down a decision in favor of crypto exchange Orionx and has ordered banks to restart trading with the platform. As per the news, the Fourth Chamber of the Court of Appeals of Santiago accepted the appeal from Orionx filed against the state-run Chile State Bank, Banco del Estado de Chile (BEC), Itau Corpbanca and six other banks. The cryptocurrency exchange accused these banks of using their power to quash its crypto payment business. All these banks closed the deposit account of the crypto exchange in late March this year citing lack of “regulatory recognition of virtual currency trading.” The banks believed that the steps they were taking were legal and justified. As per the new ruling, the Court has called all banks to reverse their original decision. According to the Court, the decision is an “arbitrary and illegal action, which constitutes a deprivation of the right protected by Article 19 No. 2 of the Political Constitution of the Republic, that is, the right to equality before the law.
https://marketexclusive.com/chilean-court-of-appeals-favors-crypto-exchange-orders-banks-to-restart-trading-with-orionx/2018/07/