Bitcoin Ban Upheld at Danske Bank Despite Growing Client Demand

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Danske Bank A/S says it received’t raise a ban on buying and selling Bitcoin and different cryptocurrencies on its platforms, regardless of rising curiosity from purchasers.

Denmark’s largest financial institution pointed to an absence of transparency and regulation in crypto buying and selling, in a statement on its web site. It additionally warned of unstable and “opaque” pricing, and famous that the carbon footprint of mining cryptocurrencies is at odds with Danske’s aim of doing sustainable banking.

“We acknowledge that there’s a vital world marketplace for crypto currencies and that many purchasers discover cryptocurrencies attention-grabbing,” the financial institution stated. “However, as a monetary establishment, Danske Bank for a number of causes maintains a really cautious strategy in the direction of cryptocurrencies.”

Danske, which continues to be being investigated for cash laundering within the U.S. and Europe, is especially delicate to the world of crypto buying and selling given the chance of such belongings getting used for monetary crime. Meanwhile, Bitcoin and its friends are rising more and more standard as a number of corners of Wall Street present providers that enable prospects to commerce them.

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About the Author: Daniel