Chilean Court to Order to Restore the Orionx Account

Chilean Court to Order to Restore the Orionx Account
16 July 2018   262

The fourth chamber of the Court of Appeal of Santiago, Chile, ordered the state Banco Estado to restore the account of the crypto exchange Orionx. This is reported by Bitcoin.com.

The court ruled that the decision to close the account was a violation of the right to equality before the law, prescribed in the Political Constitution of Chile (Article 19, paragraph 2).

According to local media, Banco Estado can not prove the involvement of Orionx in money laundering, and the closure of the account violated the terms of the contract.

In early April, Chilean banks Itau Corpbanca, Bank of Nova Scotia and Banco del Estado de Chile blocked the accounts of crypto exchanges Buda, Crypto MKT and Orionx.

Chilean court for the protection of free competition (TDLC) rejected the appeal of the country's largest banks and left the April decision to restore the accounts of Cryptomkt and Buda in effect for the duration of the investigation.

Huobi Group to Launch Trading Service for Big Customers

The service is positioned as an "an exclusive channel for institutions to ensure safe, compliant and rapid deposit-withdrawal of high-value assets"
15 August 2018   130

Huobi Group launched a new trading service for institutional market participants. 

The service is positioned as an "an exclusive channel for institutions to ensure safe, compliant and rapid deposit-withdrawal of high-value assets."

At the first stage, the service will be available for 100 institutional customers of Huobi. The latter will be able to perform up to 10 I / O operations on a first come, first served (FCFS) basis.

A range of new services will include the following options:

  • an exclusive channel for institutions, providing a safe, fast and legal withdrawal of funds;
  • multitasking, allowing to use in trading a lot of positions, strategies and open up to 1000 sub-accounts;
  • individual limits on the volume of transactions and borrowed funds;
  • individual customer support;
  • access to analytical data of the research department of the company, as well as investment strategies of Huobi Quant Academy.

In addition, for institutional clients, there will be regular Mitaps dedicated to the development of the industry, which will also offer participation in various investment projects.