Colombian banks have closed Buda.com’s accounts, Alejandro Beltran, CEO of the cryptocurrency exchange, announced. Banks Bancolombia, BBVA and Davivienda have all closed Buda.com’s accounts.
The Financial Supervisor of Colombia sent out a letter in February indicating that cryptocurrency exchanges in Colombia were under surveillance and that banks are not authorized to facilitate any cryptocurrency activity. The CEO of Buda in Colombia, Alejandro Beltran, said that he thought this letter was a recommendation and the banks had no official obligation to comply. However, the wording in the letter is very strong, and Colombian banks are now clearly complying.
Similar Action Taken In Chile
Buda.com experienced a similar scenario in Chile in March when the Chilean State Bank, Scotiabank, Banco Itau and seven other institutions said they would close cryptocurrency bank accounts due to insufficient regulation. The banks took the same action with the Orionx and CryptoMarket exchanges in addition to Buda.com.
Buda cryptocurrency exchange lost its bank accounts on the same day that the Colombian senate said such positive things regarding cryptocurrency and blockchain, but it just goes to show that there are many different organizations in any given country’s government, and these organizations often have opposing views.
Image Source : Buda.com
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