A landmark ruling in Brazil means that banks can shutter cryptocurrency-related accounts without justification.

On Tuesday, October 9th judges on the third panel of the Superior Court of Justice, Brazil’s second-highest court, took just 30 minutes to find in favour of Itaú Unibanco in a complaint from cryptocurrency exchange Mercado Bitcoin (Bitcoin Market). The court ruled by a majority vote that banks closing the current accounts of cryptocurrency exchanges does not violate the law, nor does it constitute a rights abuse under the country’s consumer protection code.
Local news site Portalo de Bitcoin

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