Norde Norde officials claim that the bank's policy has banned them from owning or trading digital currency. After the story was published, a bank employee, who declined to be named, gave evidence that the corporation was planning to go ahead with such plans.
On January 12, 2018, there were reports that Nordea had banned all its employees (or at least its employees in Sweden) from owning and trading Bitcoin or any other digital currency. The decision also includes secretarial staff, IT professionals, cleaning staff, any employees of the bank and all those working for the company.
Is this prohibition legal?
Nordea has more than half a trillion dollars of assets, making it one of the largest banks in Northern Europe. The bank's alleged move against digital currency ownership is not surprising given the public statements made by the bank's executive board. Executive Directors have always been concerned about digital currencies because they do not have a regulator. They even protested recently about allowing the biscuit to exist without going through the traditional banking system, and described it as a "farce".
However, the status of the Betcoin is exactly the same: Betquin can not exist if it is collected through a regular cartel of state-subsidized banks such as Nordea and the reason for its existence is to refuse to have any observers or bureaucrats in the process. So as to prevail for ordinary people ie unqualified and unlicensed.
After the story was published, a detective was provided with documents, provided he was not identified. The ban was adopted by the Nordea Council on December 13, 2017. The letter contained an emphasis on not allowing the bank's employees to trade Betquin or any other currency. When staff asked what to do with the currencies they already owned, the answer was delayed. According to the source, the bank has issued a second letter and explained the next policy:
"The digital currency ban will come into force in late February because of its highly speculative nature, its high risk and volatility, and the risks of tax evasion and money laundering. The rules provided for in this clause shall apply to all transactions unless otherwise provided. Therefore, it is not important whether the transaction takes place on a personal account, on behalf of a very close relative or of a client or group or on behalf of another party within or outside the scope of work "
In addition, the Bank stated that: "No employee, service provider or agent registered in the Group may conduct trading in Betkin and other digital currencies". Exemptions were granted if investments in financial instruments associated with digital currencies manufactured by Nordea Also, the prohibition does not include simple investments in digital currencies by employees engaged in product development, provided that they have a work-related reason to do so, and that they have prior approval from the head of both the BA and the GF for investment after consultation With the Compliance Group. It seems to us that there is also a condition that includes "special circumstances" as well.
Asked about the staff's views on the matter, he said: "As far as the staff are concerned, as far as I know, many of them are interested and believe that this policy is a means of controlling them, as they have the right to acquire any legal property they desire. Consequently, complaints were lodged with Finansförbundet. "
As a result of the "employee complaints", the 32,000-member union of trade unions in Sweden, Finansförbundet, representing bank staff, was reportedly to discuss a formal response at an internal meeting soon.