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Chile: Buda.com follows through with bank lawsuit

By  |  April 24, 2018

Crypto-currency exchange company Buda.com has formalized the lawsuit announced a few weeks ago against 10 banks in that country, accusing the institutions of carrying out “an attack on free competition” and “abuse of a dominant position” after they closed or hindered the opening of current accounts to itself and other similar currency exchange companies.

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    Among the defendants we find international financial institutions such as BBVA, Santander, Itaú, ScotiaBank, along with locals such as Banco de Chile, BCI, BICE, Security and Corpbanca. Buda.com has asked for fines to be applied that could reach a total of US$186 million.

    Earlier this month Buda.com, together with the CryptoMKT exchange, had publicly announced that they would submit the claim in question to the TDLC after other actions brought about by closing current accounts to Buda.com and other exchange houses.

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