The largest Bank of Northern Europe forbade employees to trade bitcoins

© RIA Novosti / Evgeny to Betemporary in fotoracconti with the logo of the cryptocurrency bitcoin. archival photoThe largest Bank of Northern Europe forbade employees to trade bitcoins© RIA Novosti / Evgeny to Betemporary the image Bank

Because of the unregulated and volatile market of electronic currency the largest Bank in the Nordic countries, Nordea on February 28 forbids workers to trade bitcoin and other similar types of settlement funds.

«Employees are prohibited from investing in cryptocurrency, as the risks are considered too high, and both staff and the Bank is not adequately protected», — stated in the message Nordea transmitted by Sputnik Estonia.

«Unlike other currencies and securities, and selling cryptocurrency is not regulated by any official organization, so buying its investors are not protected from illegal business and money laundering,» — said in Nordea.

However, it is clarified that the employees who own bitcoin are not required to sell them, although the Bank strongly recommends the latter.

By mid-January, the bitcoin exchange rate dropped to 10.5 thousand dollars for the first time since December 1, 2017, thus, the fall rate was 25.1%. On the morning of 17 January, the cost of bitcoin has grown, but then has again started to fall, reaching 11 $ 400. Experts note that the rate is influenced by negative predictions about the future of the cryptocurrency.

So, 19 December 2017 co-founder of Emil Oldenburg stated that bitcoin has no prospects as a trading currency. Later, the Minister of Finance of Japan, one of the few countries where legalized bitcoin, said that he does not consider him a reliable asset.

Monetary authority of Singapore warned that investing in crypto currencies carry higher risks for investors, as they are not secured by real assets and not officially sanctioned as a payment unit.

The Director of analytical Department of Investment company «REGION» Valery Weisberg also recognized that holders of bitcoin are at risk.

The U.S. Treasury Department is considering cryptocurrency as a «growing threat», as stated by Deputy Secretary of U.S. Treasury for terrorism and financial intelligence Seagal Mandelker. In addition, the Agency oversees the dealers of cryptocurrency to make sure that they do not use these tools to Finance illegal activities.