A Brazilian cryptocurrency exchange, Bitcoin Max, has recently seen two banks in the country, Santander and Banco do Brasil, reopen its accounts following preliminary decisions made by Brazil’s Federal District Court. It is reported that they reopened the accounts to avoid paying fines.
According to Portal do Bitcoin, failing to comply would have cost Santander up to $1,350 and Banco do Brasil up to $5,400. Bitcoin Max’s attorney Leonardo Ranna reportedly revealed its bank accounts “have been restored,” along with those of its partners.
The experience may not yet be finished, as the body of evidence against Banco Santander saw it agree due to a “sort of directive” that decided the money related foundation needed to revive the Excahnge’s accounts within five days. The order had beforehand been denied by a judge, which saw Bitcoin Max’s legal counselors advance to a Federal District Court Judge.
The new judgement came as the judge, Ana Catarino, thought about the banks’ absence of correspondence about covering the Exchange’s account to be ‘abusive conduct’ precluded by the nation’s purchaser security laws.