[Repeated Topic]Danish Court Approves Nordea Bank's Wish To Ban Its Staff From Engaging In Further Digital Currency Activities

Nordea Bank, a Scandinavian financial services institution, has received a court order from a Danish court, supporting its wish to ban its staff from engaging in trading and investing in digital currency of any kind. This was reported by BNN Bloomberg on the 3rd of December, stating that the restriction was placed owing to the risks ascribed to digital currencies.

This ban made Denmark’s union for financial industry employees to file suit against Nordea Bank. The union felt that Nordea's ban interfered with employees’ personal lives.

In a statement, the union’s chairman, Kent Petersen, explained the reason why they filed suit against the bank.

"We filed suit because of the principle that everyone obviously has a private life and the right to act as a private individual. It was important for us and our members to establish what rights managers have. In this case, it was more far-reaching than what we find to be appropriate."

The report noted that in a memo written by Nordea Bank in January 2018, the bank stressed that the unregulated market of cryptocurrency and its usage for criminal purposes had made the risks associated with it to be too high and as a result, employees who engage in it might damage the reputation of the bank.

Nordea Bank explained that the restrictions didn’t apply to cryptocurrency financial instruments it had sold to clients; neither did it cover to any crypto that employees might have acquired before the ban. This then meant that the ban included further actions as it relates to owning, investing, and trading of cryptocurrency.