Danske Bank – one of the main banks in Denmark, refused to support investments in cryptocurrency financial instruments. This means that the bank’s clients will no longer be able to work with digital currencies on the trading platforms of Danske Bank. However, investing in crypto-currencies using bank credit cards is still available.
Representatives of the bank do not relate to the phenomenon of digital currencies positively. In their opinion, they do not protect investors and users in the same way as traditional currencies and investments. In addition, they are confused by the opaque formation of the asset price and the high volatility of the crypto-currency market.
“The lack of transparency and regulatory control made crypto-currencies an object of interest to criminal structures, and we know that in several cases they were used for illegal transactions, for example, for money laundering and extortion,” the document said, which informs Danske Bank customers about new rules of work organization.
Under this ban, all financial instruments that are related to the value of the cryptocurrency are included. Including stock index bonds.
The administration of Danske Bank informed that it will monitor the market of Crypto-currency and possibly change its position if the market becomes more transparent.