Largest Nordic Bank Bans Employees' Bitcoin Trade

Employees who currently own cryptocurrencies will not be forced to sell them, but they will not be allowed to buy more
23 January 2018   570

Nordea, the Nordic region’s biggest bank, said Monday it will ban its roughly 31,000 employees from trading cryptocurrencies as of February 28 due to the unregulated nature of the market and high risks. This is reported by Reuters.

The reason why employees are prohibited from investing in cryptocurrencies is that the risks are considered too high and the protection for both employees and the bank is insufficient.

 

Nordea said in a statement

The bank added that unlike trading of securities and currencies, trade of cryptocurrencies is not regulated by any authority, and as such investors who buy cryptocurrencies have no protection against illegal business practices and money laundering.

Employees who currently own cryptocurrencies will not be forced to sell them, but they will not be allowed to buy more, bank said.

In early December, we have reported that Merrill Lynch bank banned its customers and consultants who carry out transactions on their behalf to buy bitcoin through the Grayscale Investment Trust.

Bitcoin Questions included into Dutch High School Exam

Bitcoin-themed mathematics questions have been cut-in in recent high school matriculation exams in the Netherlands
18 May 2018   99

About 200,000 Dutch students are to have taken the OVW exam, a obligatory test for students who wish to get tertiary education in the Netherlands. The testing list  included five bitcoin-themed questions.

Students were offered to solve five different mathematical problems. The questions asked that students “calculate in what year the amount of bitcoin exceeded 18 million,” “calculate from which year on the reward will be less than one bitcoin,” “determine the maximal amount of bitcoin that can be in circulation.” The resolution  of the issues was supposed to base on the formula used to employed to solve the questions.

Such kind of changes in testing for students is connected with the growing  recognition of cryptocurrency by the Holland’s institutions. In March, the Court of Amsterdam defined that bitcoin owns “properties of wealth” at the same time  adjudicating a civil rights occasion between an individual seeking repayment from an unfulfilled contract pertaining to bitcoin mining. The court ordered that “bitcoin represents a value and is transferable” and “thus shows characteristics of a property right. A claim for payment in Bitcoin is, therefore, to be regarded as a claim that qualifies for verification.”

Recently, Rob van Gijzel, the ambassador of the Dutch Blockchain Coalition, revealed a national blockchain research agenda, which had been accredited by the Dutch Ministry of Economic Affairs and Climate Policy. The ministry had established a designated committee, TopTeam ICT, appointed to analyze the potential legal, economic, and ethical implications of distributed ledger technology in the country.