Chilean Bank's closing EVERY exchange account

in #cryptocurrency6 years ago (edited)

Hello Steemit!
This is my very first post in this community, so let me do an in-context introduction

Im from Santiago de Chile, an active cryptocurrency user, i first discovered cryptos in my first university semester in 2015, by then 0.1 BTC did cost me about 30 USD that was for a micropayment, so i did no investigation about the technology untill the next year, my life changed then, wish i knew the HODL widsom .

Image of Yaktocat

In my country the Central Bank president Mario Marcel personally has talked in favour of cryptocurrencies and FinTech's in general, they have made no restrictions to crypto's business models as entity, also an State entity "CORFO" did fund two cryptoexchanges: SurBTC (now Buda) and CryptoMkt with about 100k USD each, which explosive growth in 2017 with the crpyto Market Cap.

How ever thats a piece of BS for private banks, i will explain in a second.

In Chile the Central Bank is an State entity but totally autonomus from government or any private bank, so they're most absolutely a technical entity, i worked as Help Desk there one year ago, such lucky for my first job as i learnt alot, i had daily communication with every department sometimes including the President Office, they're very well structurated and paranoid-secure, anyways i had a great experience there.

"CBDC seems to lead inevitably to the replacement of the classical role of central banks at the top of a tiered liquidity system to that of a massive retailer, where deposit-taking may soon combine with loan-making. " Mario Marcel - FinTech and the Future of Central Banking: A Latin American Perspective

Private banks are arbitrarily and illegally to our Constitution closing crypto related business bank accounts, every private bank with crypto-business users did close them accounts, this will kill a high volume of the chilean cryptocurrency net and damage future start-ups and projects. Anyways all users fund's are safe and exchanges are still working, but not with Chilean pesos, our national currency.

Those banks are: Itaú-Corpbanca, ScotiaBank and Banco Estado.
The others will not even let you open an account for a crypto-related business.

Their position is basically that they will not operate with cryptocurrencies business while the crypto-sphere is not regulated, which is a totally arbitrarily since there is MANY other technologies business that could be applied to that criteria.

In other way in my country the tax regulation is made by an organism named "SII" (Internal Taxes Services in english), also has autonomy and funded by the State. They will pronounc about their regulation in August, thats about 4 month and a half by now.

As my personal opinion i think they will announc Central Bank Cryptocurrency, and the reasons are very explained in the links below, but since every entity is autonomus is not that easy to get a consense, also the Economy Minister said they will help to remove the "rocks in the way" for startups and entrepeneurs that are trying to improve with the cryptocurrencies techonology' in good faith.

Probably there is an Central Bank agenda already, who knows.

Feel free to use this article content as yours, i dont care, as long it goes pathways.

Have a good one!

Mario Marcel on Fintech and Cryptocurrencies:
https://www.bis.org/review/r170731e.pdf

Chile Central Bank on Fintech:
http://www.bcentral.cl/-/constitucionalismo-economico-y-la-autonomia-institucional-del-banco-central-de-chile

Economy Minister on Bitcoin and cryptocurrencies:
https://www.df.cl/noticias/mercados/divisas/economia-esta-estudiando-regular-al-bitcoin-y-las-criptomonedas/2018-04-04/160555.html

Banco Estado closes account to OrionX exchange:
http://www.emol.com/noticias/Economia/2018/03/29/900619/BancoEstado-cierra-cuenta-a-Orionx-No-vamos-a-operar-con-empresas-que-operen-con-criptomonedas.html

Private Banks start their action to cryptocurrency platforms (this is where all started):
http://www.emol.com/noticias/Economia/2018/03/26/900138/Dos-bancos-cierran-cuentas-de-plataformas-que-transan-criptomonedas-en-Chile.html

SII (tax boyz baby SEC) will pronouc in August about cryptos:
http://www.latercera.com/negocios/noticia/sii-define-tratamiento-tributario-las-criptomonedas-chile/87129/

Exchanges takes offensive:

http://impresa.elmercurio.com/MerMobileIphone/homeslide.aspx?dt=2018-04-08&dtB=08-04-2018%200%3A00%3A00&PaginaId=2&bodyid=2&strReferer=android-app%3A%2F%2Forg.telegram.messenger#pagina-2

Sort:  


Welcome to Steemit @jorgearturo!

I wish you much success and hope you find Steemit to be as rewarding and informative as I have.

Yes, I love Crpto too! Lots of detailed analysis on my blog along with some predictions

Here are some links you might find useful.
Your stats on SteemNow
Your stats on SteemWorld
Your stats on SteemD
How to use Minnow Booster
How does Steemit actually work?

Introbot is hosted and managed with donations from @byColeman to help make your journey on Steemit be truly rewarding. Your feedback is always welcome so that we may improve this welcome message.
Oh yea, I have upvoted you and followed you. Many blessings from @introbot & @bycoleman

welcome in Steemit :)

Welcome jorgearturo, hope you will have a great time here on steemit!

What an informative post. Thank you for sharing what's going on there. And welcome!
Welcome to Steemit191x105.png

You are cool and I love Bitcoin. Thanks for sharing, hehe. You are awesome. I'm Oatmeal Joey Arnold. You can call me Joey.

Congratulations @jorgearturo! You have received a personal award!

Happy Easter 2018
Click on the badge to view your own Board of Honor on SteemitBoard.

Upvote this notificationto to help all Steemit users. Learn why here!

Congratulations @jorgearturo! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You published your First Post
You got a First Vote
You made your First Vote
You made your First Comment
Award for the number of upvotes received

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

Upvote this notification to help all Steemit users. Learn why here!

Do not miss the last announcement from @steemitboard!

Coin Marketplace

STEEM 0.17
TRX 0.14
JST 0.028
BTC 58607.22
ETH 2616.94
USDT 1.00
SBD 2.43