The ruling was issued on Chile’s anti-monopoly court website. According to the order, state bank Banco del Estado de Chile and Itau Corpbanca are to re-open Buda’s accounts while the exchange’s lawsuit proceeds against 10 banks, including the two above-mentioned. Buda sued the banks after what it said was an unreasonable closing of its accounts.
Earlier this month, a group of exchanges in Chile filed legal claim against the banks’ decision to shutter their accounts. Buda, Orionx, and CrytpoMarket say that the banking system has taken unilateral action in Chile that’s “killing the entire industry.”
Buda CEO declared that while Chile would like to reveal itself as open company which is liberal to new technologies:
Chile is showing its "B" side, that of being an extremely conservative country, even though we make huge efforts for the world to see us as liberals. There hasn't been one regulator, legislator or government official saying that cryptocurrencies aren’t legal, it was just the decision of a very powerful sector of the economy: the banking industry.
Guillermo Torrealba, CEO, Buda
According to Buda CEO, despite an outcry in the media and on Twitter, banks deny to respond. He claims that the strong banking sector is making the cryptocurrency environment worse than Ecuador, Bolivia, or China. Torrealba underlined that there are no laws, rulings, or legislation that obstruct crypto firms to operate normally, rather the banking sector has taken on the role of a hegemonic regulator.