Banco Santander-Chile denies operations with cryptocurrencies

Banking authorities keep transactions suspended until clear regulations are settled

Representatives of Chile’s banking sector have indicated that they will not accept cryptocurrency transactions until they have transparent legislation that guarantees security to those involved, clarity in the origin of the funds and the role of foreign exchange operators, among other aspects.

In this regard, Claudio Melandri, president of the Banco Santander-Chile, has ratified the position assumed a few weeks ago of not accepting transactions in cryptocurrencies without a regulatory framework with clear and immediate rules to control the sector.

In an official statement, the banking authorities indicated that “this is not an arbitrary act, but has affected equally all the companies in the sector, based on a systemic regulatory problem related to the obligations that current legislation proposes to this bank and to all those who act in the financial market .”



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