Chilean Bank to Reopen Crypto Exchanges Accounts

State Banco Estado, commercial Scotiabank and Itaú should reopen previously closed accounts of  Cryptomkt and Buda exchanges in several days
28 May 2018   1159

The Chilean court rejected the appeal of the country's largest banks and confirmed the April decision to reopen the accounts of Cryptomkt and Buda. This is reported by Bitcoin. com.

State Banco Estado, commercial Scotiabank and Itaú should reopen previously closed accounts in several days. According to the publication, Banco Estado has already contacted Cryptomkt for negotiations, and Scotiabank and Itaú may appeal the decision again.

According to the co-founder of Cryptomkt Martin Zofre, when the banks announced the closure of accounts, "in five days they returned 99.8% of funds to Cryptomkt customers, so now they will start from scratch." Nevertheless, the exchange expects to return to the digital currency market in the coming days.

In the beginning of April the Chilean banks Itau Corpbanca, Bank of Nova Scotia and Banco del Estado de Chile without explanations blocked accounts of exchanges Buda, Crypto MKT and Orionx. In connection with this, trading floors were forced to apply to the court.

Authorities to Study Bankrupt QuadrigaCX

Canada Revenue Agency sent a request for access to the tax info from Oct. 1 2015 to Sep. 30, 2018
18 September 2019   43

The Canadian Revenue Agency (CRA) intends to examine corporate declarations that ceased to exist as a result of the bankruptcy of the QuadrigaCX bitcoin exchange, The Globe and Mail reports.

CRA sent a request for access to the tax reporting of the exchange from October 1, 2015 to September 30, 2018, that is, on the date when QuadrigaCX tentatively began problems with the withdrawal of funds.

The E&Y auditor, acting as the trustee of the exchange, intends to discuss the tax request and obtain permission from the court to disclose information.

At the same time, the company noted that one way or another they are forced to comply with the CRA requirements, although this will take a lot of time and delay the payment of compensation to victims.

At the beginning of the year it became known that QuadrigaCX lost access to user funds by $ 190 million, and somewhat later, Indian authorities confirmed the death of the founder of the exchange, Gerald Cotten.