Chilean Exchange filed suit against 10 banks in that country

The Buda.com company filed a lawsuit yesterday with the free competition court against 10 Chilean banks "abuse of a dominant position due to the closure of current accounts with which they operated."

"We are looking for justice and if the court determines that there is an abuse of a dominant position that will open the accounts. If that happens, we stay in Chile and continue operating. If not, we will go to Peru, Colombia and open in Argentina, "Buddha representative Agustín Feuerhake informed the Chilean cooperative.

The banks had said in recent days that the closure of accounts was due to the anonymous and decentralized nature of cryptocurrencies, which, according to their position, can be lent to money laundering and other illicit activities. Faced with this, Feuerhake responds:

"All our clients have them registered, with name, surname and RUT, and we do not have anonymous clients, therefore there is no real problem of money laundering".

Buddha reports that he has about 80 thousand clients, of which about 30 thousand live in Chile. The spokesman of the exchange indicated that if they have an unfavorable result in the court they will return the balance in pesos to their clients in Chile. While those with cryptocurrencies may continue to trade with them in other markets.

It is not the only exchange to take shares, CryptoMKT also announced in a statement that it will sue the Scotiabank and BancoEstado banks, which are the ones that closed the accounts. In the press release, the exchange house indicates: "as a sign of absolute transparency of our internal processes, during the last week, in an efficient and proactive manner, we have returned 99% of our clients, all of their funds, assuming the operational and reputational losses of this unfair situation."