Buda.com Petitions Columbian Government in hopes of returning to ColumbiaScroll Down
Buda.com is a crypto currency exchange that largely operated in South America with it being one of the largest exchanges operating in the region. The company announced on September 21st that they will petition the Columbian government to renew basic operations in the country. This move follows Buda.com announcing that they would cease all operations in Columbia on June 20th of this year. This move follow several major Columbian banks announcing that they would cease to do business with Buda.com due to their reported inability to guarantee their money. Buda.com's petition to reopen this account is to only regain access to basic banking services. This is an important move by Buda.com as they claim to have over thirty-five thousand accounts in Columbia alone. This move will allow them to regain access to the money stored in these accounts. This will potentially allow Buda.com to pull their money out of Columbia or attempt to put up money to guarantee these accounts. Buda.com seems to have a desire to continue to do business in Columbia with them stating that they are in negotiations to continue to use Columbian banking services. Buda.com states that the move to close these accounts was sudden with Columbian banks not providing an explanation for their move. The country representative for Buda.com, Alejandro Beltrán, stated that the company seeks to have a positive impact on the Columbian economy. The company seeks to educate Colombians about crypto currency and blockchain technology with the stated goal of having safe and healthy crypto currency. Buda.com has had problems with South American banks and governments in the past. The company filed a lawsuit against ten Chilean banks that refused to do services with the company. This led to Chilean courts issuing a ruling that required two of the courts to do business with Buda.com. The President of Columbia has announced that the country is seeking to have a good relationship with crypto currency exchanges. This announcement is backed up by a promise to reduce rent taxes on crypto currency exchanges.