Colombian banks have closed all the accounts of South American cryptocurrency exchange Buda.com (https://www.buda.com/colombia#?market=btc-cop) without warning or explanation.
The company experienced a similar issue in Chile some months (http://www.emol.com/noticias/Economia/2018/03/29/900648/BancoEstado-da-el-golpe-final-y-cierra-cuentas-de-las-tres-plataformas-que-transan-criptomonedas-en-Chile.html) back, where several banks decided to close its account along with those of several other exchanges. According to local news (https://diariobitcoin.com/index.php/2018/06/08/bancos-colombianos-cierran-cuentas-a-plataforma-de-intercambio-buda-com/), the move by the Colombian banks was unexpected, and the banks didn’t disclose why it was closing the accounts. Buda.com sent an email to its customers where it explained the problems it was facing which were affecting withdrawals.The exchange said the closure of its accounts was sudden which affects the company’s operations and its users seeking to access their funds in Colombian pesos.Buda.com CEO Alejandro Beltrán said the closed accounts were domiciled with Bancolombia, BBVA and Davivienda.Buda.com started noticing (https://www.infobae.com/cripto247/mercados/2018/06/08/todos-los-bancos-colombianos-cerraron-la-cuenta-del-unico-exchange-de-criptoactivos/) irregularities on the Bancolombia platform before bank officials told the exchange its account had been closed.The move by the banks might be linked to an internal circular (http://www.finanzaspersonales.co/ahorro-e-inversion/articulo/los-riesgos-utilizar-bitcoin/53309) from the Colombian Financial Superintendent wherein banks were advised not to interact with crypto platforms.Beltrán, however, believes the circular was a recommendation to the banks, not an order. Other Colombian exchanges such as BitINKA and Panda Exchange haven't reported any issues with the banks.A day before the banks closed Buda.com's accounts, the Colombian Senate held a session (http://senado.gov.co/component/k2/item/28084-pie-noticias) on the potential of cryptocurrency and blockchain technology. Senator Navarro Wolff, who convened the Third Senate Committee, stated that blockchain technology can be beneficial to the country in the areas of finance, electoral systems and management of public contracts. But Wolff also stipulated, "Regulation is required to protect the consumer and the user."



This article originally appeared on Bitcoin Magazine (https://bitcoinmagazine.com/).

Congressional Bill Calls for Study of Crypto Use in Sex Trafficking

https://www.coindesk.com/congressional-bill-calls-study-crypto-use-sex-trafficking/

VW car w iota wallet 2019?

https://www.reddit.com/r/CryptoCurrency/comments/8qltyh/vw_car_w_iota_wallet_2019/

Decred Proposes a DEX Without a Blockchain
http://feedproxy.google.com/~r/Coinjournal/~3/CXDIKUtUrX4/

Exchanges have been a weak spot in bitcoin going back to the Mt. Gox days. It is a decentralized currency, so why do so many people store their coins in centralized depositories? There are a lot of reasons, chief among them are ease of use and accessibility. Most of the time it is just laziness. […]
The post Decred Proposes a DEX Without a Blockchain (https://coinjournal.net/decred-proposes-a-dex-without-a-blockchain/) appeared first on Coinjournal (https://coinjournal.net/).

Newsflash: Ethereum Price Dips Below $500 as Bitcoin Nears Year-to-Date Low

https://www.ccn.com/newsflash-ethereum-price-dips-below-500-as-bitcoin-nears-year-to-date-low/

Tron Founder Justin Sun Acquires BitTorrent after Legal Battle

https://www.ccn.com/tron-founder-justin-sun-acquires-bittorrent-after-legal-battle/

Bitcoin Futures Could Spur Bank Ratings Downgrades

https://www.ccn.com/bitcoin-futures-could-spur-bank-ratings-downgrades/

Tutellus: “Blockchain to transform an old industry of learning and teaching”
http://www.coinfox.info/news/persons/9709-tutellus-blockchain-to-transform-an-old-industry-of-learning-and-teaching

Binance lists USDT/ICX pair and supports main net swap.

https://www.reddit.com/r/CryptoCurrency/comments/8qqpxt/binance_lists_usdticx_pair_and_supports_main_net/

Bitcoin's Price Slides Below $6.5K to Hit 70-Day Low

https://www.coindesk.com/bitcoins-price-slides-6-5k-hit-70-day-low/

Monero Miners to See Charges in Japan’s First CryptoJacking Criminal Case

https://www.ccn.com/monero-miners-to-see-charges-in-japans-first-cryptojacking-criminal-case/

New Blockchain Platform BotChain Aims to Install Trust in the Emerging Bot Economy
http://feedproxy.google.com/~r/Coinjournal/~3/imFLWES5qQA/

BotChain, a new initiative by artificial intelligence (AI) startup Talla, is looking to leverage blockchain technology to provide the platform and trust needed for AI-based systems to flourish. The new blockchain platform, which is being built on Ethereum, is designed to register, identify and audit autonomous agents with an aim to provide a way for […]
The post New Blockchain Platform BotChain Aims to Install Trust in the Emerging Bot Economy (https://coinjournal.net/new-blockchain-platform-botchain-aims-to-install-trust-in-the-emerging-bot-economy/) appeared first on Coinjournal (https://coinjournal.net/).

Newsflash: Bitcoin Price Falls Below $6,400 to Hit 4-Month Low

https://www.ccn.com/newsflash-bitcoin-price-falls-below-6400-to-hit-4-month-low/

Bitcoin.org Redesign Goes Live, Removes References to Pro-SegWit2x Companies

https://www.ccn.com/bitcoin-org-redesign-goes-live-removes-references-to-pro-segwit2x-companies/

Banks' Blockchain Budgets Spiked 67% in 2017, Survey Finds

https://www.coindesk.com/banks-blockchain-budgets-spiked-67-in-2017-survey-finds/

Bitcoin Price Could Reach Further Lows Below $6,000: Analyst

https://www.ccn.com/bitcoin-price-could-reach-further-lows-below-6000-analyst/

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