Danish court rules in favor of bank to ban employees from owning Bitcoin

posted 7 months ago
A Danish court ruled that Nordea Bank has the right to prevent its employees from investing in Bitcoin. A Copenhagen-based court ruled that “Cryptocurrency is risky, and the risks justify the restriction.” In response to this, Denmark’s Union for Financial Industry Employees said “We filed suit because of the principal that everyone obviously has a private life and the right to act as a private individual.” The bank’s position is that investing in Bitcoin may damage the employer’s reputation. Thus, owning Bitcoin is a breach of etiquette for Nordea Bank employees.

Paradoxically, Nordea Bank offers derivative financial instruments based on crypto assets. Nordea Bank also has a blockchain-based payment platform, we.trade, allowing permissioned cross-border remittances for small businesses. It is uncertain how the bank would check for crypto asset ownership. Holding actual BTC could be as simple as writing down – or even memorizing a seed phrase.
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