The Chilean justice ruled in favor of the to exchange of bitcoin Buda.com, in a dispute held against banks Itaú and BancoEstado. The conflict began in 2018, with the closure of the company’s accounts in these and other Chilean banking entities, which alleged participation of the exchange in fraud against its clients.
Chile’s Tribunal for the Defense of Free Competition (TDLC) had already ruled in favor of the exchange. Now, he reiterates his decision, reject an appeal from the banks, which asked to cancel the precautionary measure brought by the court in 2018. On that occasion, the TDLC decided that Itaú and BancoEstado should keep the bank accounts of Buda.com.
The court maintains the position that both entities violated free competition in the case of the cryptocurrency exchange site, reports the local media Financial Journal.
“The new information presented does not undermine the serious presumption of the right claimed or of the facts reported in the lawsuit,” highlights the resolution issued by the TDLC.
The banks argued in their defense for the closure of the accounts that Buda.com was facilitating fraud through its platform. Just a few months ago, Itaú accused Buda of not having adequate systems to comply with local regulations, reported CriptoNoticias.
However, in the eyes of the court, the banks “have not been able to present sufficient records” that demonstrate their compliance with the regulations in force at the time of closing the Buddha accounts.
Buddha has claimed all this time that they comply with the provisions to prevent scams. They even responded to the latest accusation that the theft of credentials that made a scam of about $ 26,000 possible came from the banking platform and not from the to exchange, which was where the money ended up after the robbery.
“A victory for bitcoin in Chile”
Important members of the Chilean bitcoiner community celebrate the decision of the TDLC. Among them, Cristóbal Pereira, director of the Blockchain Summit Latam, stands out, posted on Twitter cataloging the ruling as great news to close this year.
For his part, the CEO of Buda, Guillermo Torrealba, also held briefly achievement in the social network. Torrealba, which has been in dispute with local banks for a long time, has previously stated his concern for the fate of CRYPTOCURRENCY in the region and particularly in Chile.
In the opinion of the representative of to exchange, a bad regulatory approach could end up damaging bitcoin and cryptocurrencies, alleged this year interviewed by this medium. Especially if businesses like yours took a non-compliance stance in their respective jurisdictions, he said then.
If the State of Chile considers that the most relevant cryptocurrency companies are being subversive and are rising up, the country could eventually take an anti-crypto policy.
Guillermo Torrealba, CEO of Buda.com