A Danish bank has successfully won a court case that means it can now prevent its staff from buying Bitcoin BTC and other cryptocurrencies.
That sounds fine on the surface, but a potential ban doesnt refer to buying cryptocurrency on the job, it extends into employees private lives.
According to a release made by Danish court yesterday, Nordea Bank is now free to prevent its staff from buying and trading cryptocurrencies in their own time, Bloomberg reports. They are also banned from buying crypto on behalf of others too.
How the bank will enforce a ban and what happens if someone breaches the policy remains unclear.
The bank will let its staff continue to hold any crypto they already own, but it is encouraging them to sell what they have and refrain from making future investments.
The dystopia is here.
Nordea bank has cited risks and a lack of industry regulation for its decision to advise staff against messing with the digital assets. But even so, a company dictating what staff can and cant do in their personal lives seems to be overstepping a boundary.
But thats not all.
Nordea will let its staff invest in the banks own cryptocurrency-based products and financial instruments. So thats ok? But regular Bitcoin isnt, go figure.
Product development staff at Nordea will be allowed to make minor investments in cryptocurrency if they have a legitimate business reason for doing so.
The irony doesnt stop there, though. As CoinDesk points out, Nordea bank has previously been investigated for money laundering. Reuters reported earlier this year that the banks headquarters were searched in relation to the claims.
The court-issued press release also says that staff should not conduct trades in financial instruments to the point that it puts their own financial position in jeopardy.
Sure it sounds bad, and the thought of a company dictating what its staff can and cant do outside of work makes my skin crawl, but it would look quite bad for a bank to have employees that appear to make awful financial decisions. It makes sense that a bank wouldnt want its staff taking risks on Bitcoin, it happens to the best of us.
Published December 3, 2019 16:01 UTC
Original post:
- Google removes malware Android apps used to secretly mine bitcoin [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Bitcoin exchange MtGox liquidated [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Bitcoin Wannabe Litecoin Emerges as Low-Price Challenger [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- The Worlds First Bitcoin Debit Card Is Almost Here [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- How does Bitcoin work? - Bitcoin - Open source P2P money [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Bitcoin - Wikipedia, the free encyclopedia [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- The Bitcoin Group #27 - China Bans Bitcoin Again - Politics - Dark Market - Bitcoin VC - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Edan Yago - Free Market Bitcoin regulation and Honduras free trade zones.mp4 - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Bitcoin vs. Political Power: The Cryptocurrency Revolution - Stefan Molyneux at TNW Conference - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Video: Roundup of This Week's Bitcoin News 25th April 2014 - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Bitcoin Fredagsbar med Torben Mark Pedersen - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Bitcoin and the Internet of Money - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Bitcoin for Dummies - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Bitcoin runner-up Litecoin emerges as low-price challenger [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Bitcoin or Gold? Squawk Walk Taipei- Squawkonomics - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Bitcoin Miner AntMiner S1 180 - 200 GH/s Nu in de Aanbieding! - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- New Bitcoin Documentary: Boom or Bust - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Bitcoin May v0.9.1 GitHub Source Code Development Visualization - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Atomic-Trade Bitcoin Exchange. AML, BSA, FinCEN compliant - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- China Bans Bitcoin Again -- Bitcoin the Movie -- Startup for Startups Raises 2,000 BTC - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- 4/24/14 - Xapo Debit Card, Russia's 1st Bitcoin Conference, Silk Road 2.0 - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- What is Bitcoin? - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- David Andolfatto, How Does Bitcoin Work? - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Australian Bitcoin traders hit by crash [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin traders hit by Mt.Gox crash [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Market Extra: Bitcoin venture capital money hasnt kept up with buzz [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin price slips as China steps up regulation [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Bitcoin price slips on China regulation [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Win .33 Bitcoin ($150 or so, Depending on BTC value) - Meme game for May 1st - Take My Bitcoins - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Ron Paul on Bitcoin - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- btc.sx Bitcoin derivatives platform George Samman clip - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- 'The Rise And Rise Of Bitcoin' Filmmaker: 'There Is No Answer Yet' [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- Bitcoin the movie: It just had to happen [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- Bitcoin Vies with New Cryptocurrencies as Coin of the Cyber Realm [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- The Bitcoin Meetup - BitcoinMKE Hosts Jeffrey Tucker - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- MIT Bitcoin Expo 2014 - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- Bitcoin Expo 2014: Fireside Chat with Dr Gavin Wood - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- Rise Bitcoin Singapore - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- Preview: Bitcoin Authenticator - 2FA for wallets - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- The Bitcoin Group #27 (Live) - China Bans Bitcoin Again - Politics - Dark Market - Bitcoin VC - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- 4/25/14 - More China uncertainty, Missourian bitcoin warning, BadLepricon malware - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- Money & Tech at The Rise And Rise Of Bitcoin Afterparty - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- New Bitcoin student club at MIT will promote the virtual currency [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- 4/29/14 - MIT Bitcoin Project, Mt Gox revival plan, Mastercard lobbyists & Team Rubicon - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- BitCoin Dentist GoCoin Fox News Interview - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Bitcoin Foundation Election Hiccups -- Pathetic Ohio Bans Bitcoins -- Dogecon SF 2014 - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Bitcoin Slips to $420 as BTC China Halts Transactions - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- MultiSig Plus BitCoin Multi Coin Wallet looks like HUGE INVESTMENT potential! - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Bitcoin: what happens when the miners pack up their gear? [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Dark Wallet Is About to Make Bitcoin Money Laundering Easier Than Ever [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Bitcoin Talk Show #7 -- Skype BitcoinTalkShow to Call in Live! 🙂 - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Basic Bitcoin Bitches - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Gold standard vs Fiat vs Bitcoin - Truthloader - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- How to Defund the System: Bitcoin vs. the Central Banksters - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Bitcoin, Anarchy and Freedom with Roger Ver - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- MIT Goes Bitcoin-Wild [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Bitcoin Weekly 2014 April 30: Bloomberg adds Bitcoin to their market index, MIT to produce campus-wide bitcoin ... [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- 'Dark Wallet' wants to make Bitcoin even harder to trace [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Bitcoin made simple (video animation) - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Jon Matonis: Bitcoin - The future of commerce? - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- $100 in Bitcoin Going to Every MIT Undergrad - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- The Rise of Digital Currency - Video [Last Updated On: May 1st, 2014] [Originally Added On: May 1st, 2014]
- Money Goes Virtual: The Bitcoin Bourse - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Bitcoin Lights with LIFX - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Bitcoin: How We Got Here and Where We Are Going [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- 5/1/14 - Larry Summers warns critics, Paym system & Bitcoin Center NYC roundtable - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- On est Connect S2 #07 1/2 : BitCoin et Musique sur Internet - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- MIT Undergrads To Receive $100 Worth Of Bitcoin This Fall - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- Why it only took ME less than 2 minutes to believe in Bitcoin - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- Bitcoin Basics and Regulation Thoughts from NH Liberty Forum - Bruce Fenton - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- PRIMER CAJERO DE BITCOIN EN BIT CENTER DE TIJUANA - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- Yelp adds Bitcoin acceptance to business listings - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]
- Bitcoin A Terrorist Threat? Counterterrorism Program Names Virtual Currencies As Area Of Interest [Last Updated On: May 4th, 2014] [Originally Added On: May 4th, 2014]
- How Does Bitcoin Works - Video [Last Updated On: May 4th, 2014] [Originally Added On: May 4th, 2014]
- 10 Things You Didn't Know About BitCoin - Video [Last Updated On: May 4th, 2014] [Originally Added On: May 4th, 2014]
- BITCOIN The Future of Money - Video [Last Updated On: May 4th, 2014] [Originally Added On: May 4th, 2014]
- Bitcoin Miner Review - Video [Last Updated On: May 4th, 2014] [Originally Added On: May 4th, 2014]
- The Bitcoin Group #28 (Live) - Yelp Lists Bitcoin - MIT Bitcoin $100 - Dark Wallet - Ohio Bans BTC - Video [Last Updated On: May 4th, 2014] [Originally Added On: May 4th, 2014]
- Bitcoin: Gary North is Mentally Deranged And Bitcoin Will Change Everything - Video [Last Updated On: May 4th, 2014] [Originally Added On: May 4th, 2014]
- Who is the Bitcoin Warlord? - Video [Last Updated On: May 4th, 2014] [Originally Added On: May 4th, 2014]