Topic: Swedish bank forbids 31000 employees from investing in Bitcoin or crypto (Read 568 times)
August 13, 2018, 08:05:25 AM
This doesn't suprise me at all. Banks are scared and will be scared of cryptocurrencies. The fact is that keeping money on your local wallet is far more safe than in a bank these days.
August 13, 2018, 08:02:00 AM
Well this bank will someday fade in to obscurity because they're so thick skulled about accepting the new age of secure digital currency. It's just one bank though this probably does not represent the Swedish government or people of that nation.
It is the largest bank in Sweden, Finland, Denmark and Norway....
March 03, 2018, 09:59:22 AM
Now a lot of people earn on the crypto currency invest in investing or earning in other ways.
February 13, 2018, 10:00:39 AM
Bank says its too risky the employees get involved in Criminal or unethical activities. Bank also encourages those who already have invested in crypto to sell.
I would assume this is a small attempt by the bank to help lowering the market price...
https://translate.google.com/translate?sl=sv&tl=en&js=y&prev=_t&hl=sv&ie=UTF-8&u=https%3A%2F%2Fwww.nyteknik.se%2Fdigitalisering%2Fnordea-anstallda-forbjuds-handla-med-bitcoin-6894565&edit-text=
perhaps it is an attempt to prevent employees from losing their money, because bitcoin investment is very risky. besides that maybe Sweden is afraid of fiat money is replaced by bitcoin so as to make the state finance unstable. I would assume this is a small attempt by the bank to help lowering the market price...
https://translate.google.com/translate?sl=sv&tl=en&js=y&prev=_t&hl=sv&ie=UTF-8&u=https%3A%2F%2Fwww.nyteknik.se%2Fdigitalisering%2Fnordea-anstallda-forbjuds-handla-med-bitcoin-6894565&edit-text=
February 13, 2018, 05:41:12 AM
world is changing rapidly but banks are still in stoneage
The bank is clearly feeling some level of prudent responsibility unlike people in here
February 13, 2018, 05:06:06 AM
Bank says its too risky the employees get involved in Criminal or unethical activities. Bank also encourages those who already have invested in crypto to sell.
I would assume this is a small attempt by the bank to help lowering the market price...
https://translate.google.com/translate?sl=sv&tl=en&js=y&prev=_t&hl=sv&ie=UTF-8&u=https%3A%2F%2Fwww.nyteknik.se%2Fdigitalisering%2Fnordea-anstallda-forbjuds-handla-med-bitcoin-6894565&edit-text=
I would assume this is a small attempt by the bank to help lowering the market price...
https://translate.google.com/translate?sl=sv&tl=en&js=y&prev=_t&hl=sv&ie=UTF-8&u=https%3A%2F%2Fwww.nyteknik.se%2Fdigitalisering%2Fnordea-anstallda-forbjuds-handla-med-bitcoin-6894565&edit-text=
Clearly they want employees with common sense
January 30, 2018, 05:41:45 AM
this is a risk for people who have crypto or bitcoin in a country that does not support crypto or against crypto, they will always feel discrimination from all sides. as is the case in india. The Indian Government takes firm action against anyone who transacts with bitcoin or crypto. so, I think this is a big challenge.
January 30, 2018, 05:32:50 AM
It's interesting that they say "investing" rather than "speculating". At least they recognise that Bitcoin is an asset and not just a method of gambling.
January 30, 2018, 05:14:27 AM
I want to relay to
The thing is that the basis behind some investing activities ban is not law per se but a company code of conduct. It may be considered unethical to engage in certain activities for employees of a company, even if they are perfectly legal. The forbidden activities may involve publicly promoting certain attitudes, activities being on the borderline of legal and illegal (like buying gifts for the company representatives you cooperate with) or certain investing activities.
I have seen such codes of conduct very frequently. Many friends of mine cannot engage in investing activities without having an explicit OK from the company for each investing case.
I think this is also the case here, in the story from this article.
I am even wondering if this is even legal to begin with, no entity has the right to forbid anyone even if it’s their employees what to invest and what not to invest in. If the Banks have made their policy clear they can’t force its worriers on what to do.
andI don't think they can actually forbid employees from owning bitcoins considering it's not even illegal there. I'm not familiar with their labor codes though but it would be ridiculous if they can fire employees over this.
Also, isn't Sweden also in the process of developing their own cryptocurrency? Guess this might have something to do with that.
Also, isn't Sweden also in the process of developing their own cryptocurrency? Guess this might have something to do with that.
The thing is that the basis behind some investing activities ban is not law per se but a company code of conduct. It may be considered unethical to engage in certain activities for employees of a company, even if they are perfectly legal. The forbidden activities may involve publicly promoting certain attitudes, activities being on the borderline of legal and illegal (like buying gifts for the company representatives you cooperate with) or certain investing activities.
I have seen such codes of conduct very frequently. Many friends of mine cannot engage in investing activities without having an explicit OK from the company for each investing case.
I think this is also the case here, in the story from this article.
January 30, 2018, 04:57:09 AM
Well this bank will someday fade in to obscurity because they're so thick skulled about accepting the new age of secure digital currency. It's just one bank though this probably does not represent the Swedish government or people of that nation.
January 30, 2018, 04:49:35 AM
I think this is impossible. If a bank is illegal in doing so, they have no right to ask employees not to invest, and the investment is not illegal, at least not now. Investing in bitcoin is inherently anonymous and banks know how they can prove they infringe on your privacy if they know it.
January 30, 2018, 04:45:36 AM
Bitcoin is anonymous. There cannot tell if you have invested in the currency.
January 30, 2018, 04:44:23 AM
... And what will they do if you invest ? 
That's the kind of interdiction where everyone says "ooooh, such a bad news", and 3 months later, even employees themselves have forgotten about it.
That's the kind of interdiction where everyone says "ooooh, such a bad news", and 3 months later, even employees themselves have forgotten about it.
January 30, 2018, 03:32:12 AM
Are they law? But I'm not surprised really because they might be felling they only have few days left reigning as the industry who controls the flow of money. If I'm in their place, I would also do such crazy things just to get rid of bitcoin.
January 24, 2018, 09:55:28 AM
I don't think they have the right to tell people where to put their money in. Goes to show that some banks would go to such measures probably because they're afraid of bitcoin. I'm not sure if they can monitor every one of those 31000 employees if they want to invest in btc
January 23, 2018, 08:28:49 PM
That's really a frustrating news for this platform, last a couple of days are not in favour of this blockchain system. the price is decreasing at a high rate, people are becoming afraid of this platform day by day. But time will change, I think most of the government are getting scared of this system but they don't declare it as an illegal activity they always say that it's too risky to invest.
So you must have to take a risk if you want to make a profit from your investment, I think this platform as risky as your profit. you will get also a large amount of money if you can overcome it.
So you must have to take a risk if you want to make a profit from your investment, I think this platform as risky as your profit. you will get also a large amount of money if you can overcome it.
January 23, 2018, 08:15:25 PM
Thats a terrible news, Wonder what's going on, one after one there has been so many bad news coming,
January 23, 2018, 08:14:15 PM
Bloomberg has demonstrated that when it comes to cryptocurrencies, they don't really know what they're talking about. See this article: https://dcebrief.com/bloomberg-editors-reveal-how-little-they-know-about-bitcoin-or-cryptocurrency/
With that said, I wish the bank luck in trying to ban their workers from investing in cryptocurrencies. If they're just saying they can't trade on the clock, that's fine. If they're trying to tell them what they can do at home after hours, that's way too intrusive unless that activity itself were to become illegal. Current Nordea employees have until February 28th to purchase whatever cryptocurrencies they want to hold, and then they can keep holding them according to the article. So... maybe there will be a mini-pump from Scandinavian exchanges towards the end of next month? There might be some employees leaving Nordea to go work for some other bank that has no such ban. That's probably what I would do in that situation. Probably the majority of the workers won't really care about it and will go on ignoring cryptocurrencies like they have up until now.
With that said, I wish the bank luck in trying to ban their workers from investing in cryptocurrencies. If they're just saying they can't trade on the clock, that's fine. If they're trying to tell them what they can do at home after hours, that's way too intrusive unless that activity itself were to become illegal. Current Nordea employees have until February 28th to purchase whatever cryptocurrencies they want to hold, and then they can keep holding them according to the article. So... maybe there will be a mini-pump from Scandinavian exchanges towards the end of next month? There might be some employees leaving Nordea to go work for some other bank that has no such ban. That's probably what I would do in that situation. Probably the majority of the workers won't really care about it and will go on ignoring cryptocurrencies like they have up until now.
January 23, 2018, 07:34:27 PM
so sad for the employee. but i think the bank cannot forbid it. the bank can not make a law. people are free and they can still invest in bitcoin. for me is this only a advice, but not a law. its the same as the bank says do not use drugs. but some people will do it nevertheless.
January 23, 2018, 12:29:52 PM
how do you actually "prevent" people or your employee even from investing in bitcoin? i mean it is a decentralized market and holding it doesn't need anyone in the middle. you are your own bank and you buy it from others, you don't even have to use a bank for that!
besides it seems like this is more of a warning, as all the rest of the world have warned the newbie investors.
besides it seems like this is more of a warning, as all the rest of the world have warned the newbie investors.
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