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Chile's Bank Crackdown on Crypto Exchanges Highlights Need for Transparency And Dialogue as “Old” Faces “New”

A few weeks ago, Chile's state-owned bank, Banco del Estado de Chile informed informed three cryptocurrency exchange clients - Orionx, CryptoMKT and Buda.com - that their accounts would be closed in 10 days. The move came after Canada's Scotiabank and Brazil's Itaú said they would be closing the accounts of the three exchanges. As a result of the bank's decision to cut them loose, the exchanges - reportedly the only ones in the country to obtain traditional bank accounts - will no longer have access to wider financial services.

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Don Thibeau
Bloqueo Bancario de Intercambios de Criptomonedas Destaca la Necesidad de Transparencia y Diálogo – lo Establecido se Enfrenta con la Novedad

Hace unas pocas semanas, el Banco del Estado de Chile ha publicado un comunicado en el cual informaron a tres empresas de intercambio de criptomonedas – Orionx, CryptoMKT y Buda.com – que iban a clausurar sus cuentas dentro de 10 días. Este paso viene detrás de que Scotiabank de Canadá y Itaú de Brasil anunciaron que iban a cerrar las cuentas de los tres intercambios. Como resultado de esta decisión del banco, los intercambios – aparentemente los únicos en el país que habían obtenido cuentas bancarias tradicionales – ya no tendrán acceso a servicios financieros más amplios.

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Don Thibeau
Open Identity Exchange to Incubate the Distributed Ledger Foundation

Incubated from within the Open Identity Exchnange, the Distributed Ledger Foundation (DLF) is a new industry consortium made up of companies from private industry as well as non-profit organizations. This new industry consortium aims to promote reliable, predictable and secure distributed ledger systems and shape tomorrow’s governance. It will be an open resource for the distributed ledger community, building governance best practices and informing governments, commercial organizations and others on issues critical to the success of widely distributed networks.

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Don Thibeau