After CEO Calls Bitcoin a 'Joke' — Nordea Bans Employees From Cryptocurrency

Defenders of Danish workers’ rights today said they may sue giant Northern European bank, Nordea, ‎for allegedly enacting a company policy which forbids its employees from owning or trading in ‎Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term or other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.‎

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This decision from the Nordic region’s biggest bank did not go over well with the local community, as the hands-off approach was not complying with primary rights and labor standards, some activists claim,

‎Danish Financial Federation chairman Kent Petersen told a local radio station that ‎his association “would consider it a legal offense against the individual,” adding ‎that “After all, in Denmark there is still a degree of freedom to invest if it is not a risk ‎for the company you are employed in.”‎

More recently, Nordea’s CEO Casper von Koskull dismissed Bitcoin ‎altogether, calling it “a joke”. In his criticism of Bitcoin, von Koskull specifically targeted the fact that the cryptocurrency is unregulated and frequently linked with criminal activity and fraud. He added that he’s skeptical that authorities will allow a ‎currency to exist without state oversight, especially if something goes ‎wrong. ‎

The Nordic lender made the official announcement that has forbidden all its roughly 31,000 employees from trading in cryptocurrencies in a post on social ‎media. In a tweet, the bank wrote: “Nordea Financial institution forbids all their ‎workers (at the least in Sweden) to cease proudly owning and buying and ‎selling $btc and different crypto foreign money. Is it authorized even?”

The message ‎also clarified that the new policy will apply to all employees of the bank, ‎including secretaries, cleaners, IT staff, and of course bank personnel.‎

Nordea’s decision to ban Bitcoin trading for its employees comes as Nordic financial regularors are grappling with how to regulate ‎the digital coin space. The Danish central bank calls it dangerous, while the governor of its Swedish counterpart thinks that Bitcoin is just a speculative virtual asset whose value has no guarantee.