The Chilean Minister of Economy has voiced his support for cryptocurrencies after the country’s anti-monopoly court ordered major banks to re-open the accounts of crypto operators. Three banks out of the 10 sued by local cryptocurrency exchange Buda have been ordered to re-open crypto exchange accounts.
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Minister of Economy Supports Crypto
José Ramón Valente, Chile’s Minister of Economy, Development, and Tourism, “gave a signal of support to cryptocurrencies and those who operate them in Chile,” Diario Financiero reported on Friday and quoted him saying:
What interests us with cryptocurrencies is basically giving them the opportunity [to develop] because they are an important innovation that is happening in the world…You have to give them a chance.
José Ramón Valente.
“We cannot stay out of these innovations” or “outside of this economy of the future,” he emphasized, adding that by giving them a chance, “we are not the ones who artificially put a lock on them so they cannot happen,” the news outlet conveyed.
While advocating for giving cryptocurrencies a chance “so that they demonstrate their value,” he clarified that he does not support any parties involved in the conflict between banks and crypto exchanges. “We are not in favor [of] or against them, but simply see them as another innovation and we favor that there is this innovation, and that Chile does not close before the possible technological advances in the world,” he elaborated.
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The minister’s remarks came after the Court for the Defense of Free Competition (TDLC – Tribunal de Defensa de la Libre Competencia) ordered Banco del Estado de Chile and Itau Corpbanca to re-open the current accounts of Buda crypto exchange, formerly Surbtc.
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