ORIONX Comes out the Winner


Sometimes the underdog wins. The Fourth Chamber of the Court of Appeals in Santiago has ruled in favor of Orionx. The ruling orders the only government- owned bank in Chile to reopen the account of Orionx.
The ruling is based on the fact that Orionx has rights under Chile law to equality.
The Court said that by closing Orionx’s account the bank actions are illegal. The Court said that Orionx has the right to develope their business as long as they follow general banking regulations.
While acknowledging the risks associated with crypto transactions, the court explained that businesses using them “as new forms of investment and payment…cannot necessarily be identified with the commission of criminal acts.” Orionx said, we hope other courts around the world will follow suit and accept that cryptocurrency companies are working hard to comply with all Federal and State regulations.


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