Nordea Bank can legally prevent its employees from trading Cryptocurrencies
Nordea Bank now has the right to prevent its employees from trading bitcoin and other cryptocurrencies following a ruling by the Danish courts.
Per a verdict, Nordea is free to prevent employees from investing in bitcoin due to the risks associated with cryptocurrency.
Denmark’s union for financial industry employees filed a suit against the bank, as a result of a memo circulated in January 2018 warning employees that “the risks were too high” to trade in crypto. Nordea justified its ban by saying that the crypto markets were unregulated and linked to criminal activities, including money laundering.
On the bank’s decision, Kent Petersen, the union’s chairman, said:
We filed suit because of the principle that everyone obviously has a private life and the right to act as a private individual.