Topic: Unexpectedly: criticism of Bitcoin in Sweden - page 2. (Read 248 times)
No surprise that anyone who wants to bash Bitcoin and crypto generally is going to jump on the bandwagon when the price is not looking that rosey. We will have the last laugh when they are left sitting at the station, I am patient and you should be too - leave the haters hate and hang in there people, its been a tough few days, but long term - you are in the right place.
Not surprising a bank is doing this right now.
They're preventing their employees from being involved in it. They want to protect the reputation of the bank and their employees because it's not a "regulated industry" yet and if something did happen and they won't be associated with the losses.
They're preventing their employees from being involved in it. They want to protect the reputation of the bank and their employees because it's not a "regulated industry" yet and if something did happen and they won't be associated with the losses.
Can they enforce this legally?
I would expect they could get into a large legal battle over this if any staff wanted to take it further.
I would expect they could get into a large legal battle over this if any staff wanted to take it further.
I doubt it could be enforced outside of company premises. Blocking access to exchange sites and other Bitcoin-related web pages is easy enough. Past that, it seems like an "honor system" situation that is unlikely to be enforced.
When framed as a company ethics/code of conduct policy, I could see it being legal. But who knows? I'm certainly not familiar with Swedish law. I would also bet that there would be legal challenges if Nordea ever terminated employees over this.
Interestingly, Nordea's regulator indicates that it won't be weighing in on the matter:
Quote
Sweden’s Financial Supervisory Authority thinks “every institution must decide on the details of their internal regulations specifying the rules for their employees’ investments and trading,” spokesman Peter Svensson told Bloomberg, in response to questions about Bitcoin guidelines.
That's a worldwide phenomenon followed by central banks against cryptos.Bitcoin is treated by them as their main rival and that's why,they act this way.
Somehow whole world is becoming against the crypto and the bitcoins. Thats pretty disgusting to me.
Can they enforce this legally?
I would expect they could get into a large legal battle over this if any staff wanted to take it further.
I would expect they could get into a large legal battle over this if any staff wanted to take it further.
Unexpectedly: criticism of Bitcoin in Sweden
Nordea Bank AB took up arms against the Crypto-currency.
Bloomberg reports that the largest Nordea bank in Sweden and the whole of Northern Europe sent a memorandum to its employees with a ban on trading Bitcoin and other crypto-currencies.
Unexplained, but true: Bitcoin in Sweden is not loved by everyone!
Nordea Bank AB has imposed a ban on operations with crypto-currencies after the bank's board reached a conclusion about the unregulated nature of the crypto-currency market. However, Nordea stated that the bank's updated policy includes transitional provisions for personnel with existing crypto-currency reserves and "permits certain exceptions". In other words, employees who already own Bitcoin are allowed to keep their savings in a crypto-currency form.
More
That's not unexpected if a bank is against crypto, especially bitcoin. Especially, if the bank enables it's customers to buy crypto related derivatives. Now it's interesting the idea behind, why the bank bans the employees to trade cryptos, but allow the customers...Nordea Bank AB took up arms against the Crypto-currency.
Bloomberg reports that the largest Nordea bank in Sweden and the whole of Northern Europe sent a memorandum to its employees with a ban on trading Bitcoin and other crypto-currencies.
Unexplained, but true: Bitcoin in Sweden is not loved by everyone!
Nordea Bank AB has imposed a ban on operations with crypto-currencies after the bank's board reached a conclusion about the unregulated nature of the crypto-currency market. However, Nordea stated that the bank's updated policy includes transitional provisions for personnel with existing crypto-currency reserves and "permits certain exceptions". In other words, employees who already own Bitcoin are allowed to keep their savings in a crypto-currency form.
More
You can find useful posts about the topic in this thread:
https://bitcointalk.org/index.php?topic=2804977.0;topicseen
We need to wait a bit to clarify the real effect of the ban, but it's not unexpected yet that banks will behave like this, unfortunately...
Unexpectedly: criticism of Bitcoin in Sweden
Nordea Bank AB took up arms against the Crypto-currency.
Bloomberg reports that the largest Nordea bank in Sweden and the whole of Northern Europe sent a memorandum to its employees with a ban on trading Bitcoin and other crypto-currencies.
Unexplained, but true: Bitcoin in Sweden is not loved by everyone!
Nordea Bank AB has imposed a ban on operations with crypto-currencies after the bank's board reached a conclusion about the unregulated nature of the crypto-currency market. However, Nordea stated that the bank's updated policy includes transitional provisions for personnel with existing crypto-currency reserves and "permits certain exceptions". In other words, employees who already own Bitcoin are allowed to keep their savings in a crypto-currency form.
More
Nordea Bank AB took up arms against the Crypto-currency.
Bloomberg reports that the largest Nordea bank in Sweden and the whole of Northern Europe sent a memorandum to its employees with a ban on trading Bitcoin and other crypto-currencies.
Unexplained, but true: Bitcoin in Sweden is not loved by everyone!
Nordea Bank AB has imposed a ban on operations with crypto-currencies after the bank's board reached a conclusion about the unregulated nature of the crypto-currency market. However, Nordea stated that the bank's updated policy includes transitional provisions for personnel with existing crypto-currency reserves and "permits certain exceptions". In other words, employees who already own Bitcoin are allowed to keep their savings in a crypto-currency form.
More
Jump to: