Banco Santander has appealed to the Superior Court of Justice (STJ) to avoid having to reopen the Bitcambio cryptocurrency brokerage account, based in Niterói. In the first and second instance, the bank had already received the decision to take back the securities account.
The Court of Justice of the State of Rio de Janeiro concluded that the blocking of a current account for closure was carried out without prior notice to the company, without due observance of a reasonable period of time and without giving reasons.
The decision upheld the decisions that stipulated that the defendant waived the closure of the plaintiff company’s bank account, with compensation of R$2,500.00.
Dissatisfied, Santander resorted to the STJ to keep the company’s account closed and the matter was analyzed by minister Marco Aurélio Bellizze.
Since 2020, Bitcambio has itself publicly accused Santander of failing to comply with court decisions.
Santander reopens Bitcambio cryptocurrency brokerage account
Citar Tech is the company responsible for Bitcambio, PagueComBitcoin and Opey and has been active in the Brazilian cryptocurrency market since 2013.
In 2020, he had his account closed by Santander and succeeded in Rio’s courts to reclaim his account in interim decisions. Since then, the Spanish bank has appealed through its division in Brazil to keep the account closed.
At the STJ, a decision by Livecoins in early June 2023 stipulates that Santander must reopen the cryptocurrency brokerage account as it failed to inform the institution in advance that its account would be unilaterally closed.
The decision, it’s worth remembering, helps other cryptocurrency brokers with closed accounts in the country, as several banks have cracked down on exchanges in recent years.
Broker has postponed payments from some customers
The curious thing about the situation also means that Bitcambio, which went through an account lockout, has also received allegations from customers suggesting a possible lockout without notice.
In a statement to Livecoins, one of the affected clients claims he has been unable to access his balance with the brokerage since July 2022. He also stated on the channel denuncia@livecoins.com.br that he has locked up some of the money in Real for several months.
In May 2013, the client claimed that BRL 13,000 was blocked by the platform, which only informed him that it still has no forecast for its normal operation.
Via Advertising Aqui from Bitcambio, other customers complain that the platform has been undergoing maintenance for months. However, the brokerage did not respond to the complaints.
Livecoins sought information from Bitcambio, but received no response at the time of writing. Article is updated.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
