RATE Group | Cryptocurrency brokerage from Brazil wins lawsuit against Banco Bradesco
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Cryptocurrency brokerage from Brazil wins lawsuit against Banco Bradesco

02 Aug Cryptocurrency brokerage from Brazil wins lawsuit against Banco Bradesco

Posted at 22:06h in Cryptocurrency News by

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  • The bank closed the firm’s account for alleged “unusual activity.”
  • There have been several stories of South American banks and crypto firms butting heads in 2018. 

M Intermediação e Prestação de Serviço Ltda, a cryptocurrency brokerage firm from Brazil, has won a lawsuit against Banco Bradesco. The lawsuit was initiated after the bank closed M Intermediação’s account. The firm uses the Bitcoin network and traditional bank accounts to allow users to make deposits and withdrawals in both Bitcoin (BTC) and Brazilian reals. The bank had blocked the brokerage’s account back in 2018 after they observed “unusual activity.” The presiding judge ruled against the bank after reportedly not finding any evidence of wrongdoing.

There have been several stories of South American banks and crypto firms butting heads in 2018. Earlier the Santander bank lost a lawsuit after a Brazilian crypto exchange, Mercado Bitcoin, complained of them closing their…

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