6 December 2019 by Victor
Overwhelmed by the decision of Nordea Bank Danmark A/S in the prohibition of the purchase of crypto-currencies by its employees, the national union of financial sector employees has filed a legal action against the bank for breach of privacy. The verdict is ruled in favour of the Bank vis-à-vis its employees.
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No crypto-currency for the employees of the bank
Last year, the Nordea Bank Danmark A/S has established a policy impediments to the freedom of its employees in the treatment of crypto-currencies. At the time, the bank had justified its decision by arguing that the use of this kind of asset could possibly harm him.
Indeed, the reputation unhealthy between bitcoin and criminal activity as well as the absence of regulation of the market would be likely to discredit the company, in the case where the clients would suspect that the staff of the bank was interested in practices deemed to be unhealthy. After months of litigation, the Court ultimately ruled in favour of the Bank.
Justice requires that the risks associated with investments in crypto-currencies were amply sufficient to justify this clear infringement to private life, and would give the bank the right to enforce these restrictive measures.
Nordea Bank will stop their employees from investing in Bitcoin.
They told their staff that “the risks were too high”
This is coming from the same bank that was raided by police for allegedly laundering $793 million of Russian money. ?
— Rhythm (@Rhythmtrader) December 3, 2019
Would this be an unfair decision ?
For your information, the the Nordea Bank Denmark A/S is a subsidiary company of the group Nordea, the largest financial group in Northern Europe. The observers can then easily make the connection, because Casper von Koskull, the chief executive of the group, is a fervent opponent of the bitcoin and crypto-currencies.
According to its own terms, the character was designated the bitcoin of the construction absurdity which defies logic.
Such criticism vis-à-vis the crypto-currencies are justified by the recurrence of financial crimes related to these categories of assets. What’s more, the banking institution had faced serious problems of money laundering earlier this year.
Do you think also that the Bank has the right to interfere in the private lives of its employees of the kind ? Respond in the comment section below.
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