Banco Estado, Following Court Order, Welcomes Back Cryptocurrency Firm

[kreslik.news]

Banco del Estado de Chile (Banco Estado), the only public bank in Chile, has re-opened the account of a cryptocurrency business. In doing so, it becomes the first bank to comply with an order from the country’s anti-monopoly court.

Background

At the beginning of April, Chilean cryptocurrency businesses were dealt a damning blow as the last bank that was still servicing their accounts decided to stop. Specifically, Banco Estado shut down the accounts of three local cryptocurrency exchanges – Buda, Orionx, and CryptoMKT. This followed similar decisions by Itau Corpbanca and Scotiabank Chile.

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