One of the largest Nordic banks – Nordea Bank has banned the sale and purchase of Bitcoin. Although the court gave the large bank permission to do so back in June of 2018, it seems there will be no end in sight for this Bitcoin ban.
Keep in mind, this cryptocurrency ban only applies to all 31,000 of its employees. They claim the risk of allowing employees to purchase the cryptocurrency is far top high for both the employees as well as the bank itself. After the well-known Bitcoin boom back in 2017, there have been many highs and lows for the cryptocurrency. Its future remains very unclear and thus why Nordea Bank has imposed such strict measures on its purchase.
Nordea also claimed that Bitcoin made some forbidden transaction. As a result, they were hit with a class action lawsuit by FSU DK. This union believes that everyone is entitled to their own private life, separate of their work obligations. The ban prohibited employees from trading Bitcoin even outside of work in fear that this act would tarnish the company’s reputation.
While Bitcoin is not exactly popular among bankers, there is still hope for the cryptocurrency after all. German banks are now allowed to sell the cryptocurrency. This should give it the major boost it’s been longing for.
Good luck 🙂
