BUDA and Crypto MKT, two major Chilean cryptocurrency exchanges, are seeking clearer cryptocurrency regulation. Their developers and owners came to a conclusion, that a legislation is needed, when they faced some problems with the major banks of the country, when the exchanges accounts were frozen by a number of banks.
In their public statement, crypto-exchanges are asking to provide a clear regulation on cryptocurrency and related phenomena. The main reason why the banks blocked the account, as the crypto-exchanges claim, is the lack of knowledge about cryptocurrency. The crypto-exchanges representatives insist, and they have reasons to do so, that proper legislation about cryptocurrency will help to bring the country on another level in the financial world.
Some banks though have replied already, that each kind of relationship between a financial institution and a client is based on a mutual agreement, and if the financial institution isn’t interested in the relationship, it is up to the financial institution to stop it.