Court rules: Nordea Bank free to prevent employees from investing in Bitcoin

Wednesday 4 December 2019 13:31 CET | News

The Danish court has ruled that Nordea Bank is free to prevent its employees from investing in Bitcoin and other cryptos in their own time.

Irish Times suggests that as per a verdict published on the Denmark-based court’s website, the risks associated with cryptocurrencies justify the restriction. However, the country’s union for financial industry employees had filed suit against Nordea, mentioning that the ban interfered with employees’ personal lives.

In January 2018, Nordea’s staff was told that ‘the risks were too high’ because the cryptocurrency market isn’t regulated and had been linked to criminal activity, including money laundering. Moreover, financial instruments tied to cryptos that Nordea had sold to clients are not covered by the restriction. It did not apply to any cryptocurrencies that employees might have owned before the ban.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Nordea Bank, investment, Bitcoin, court, rules, cryptocurrency, digital assets, financial industry, Denmark, money laundering
Categories: DeFi & Crypto & Web3
Countries: Denmark
This article is part of category

DeFi & Crypto & Web3