Denmark’s biggest bank, Dankse Bank just published their official position on cryptocurrencies. The bank advises its customers to be cautious while buying crypto. However, the bank does not advise its customers not to buy it.
The bank has provided guidelines for its customers to be cautious while investing. However, did not really condemn cryptocurrency outright. The bank clearly said that they don’t have any plans to offer their own crypto service or platform in the future.
Dankse’s official position is quite lenient. The bank’s credit cards are being used for crypto transactions, and the bank has no problem with it. The bank says if money laundering laws are adhered by they don’t see much problem with the use.
The bank in its statement has accepted the change that cryptocurrencies have brought to the financial ecosystem. They also acknowledged the increasing interest of their customers in the space. In its statement, the bank did praise blockchain as a technology and its future implementations.
Four Reasons to Be Cautious
The bank highlighted four reasons to be cautious of cryptocurrency to its customers. The reasons included lack of transparency, lack of regulation, volatility and environmental impact. The bank made its future plans clear.
However, the bank also highlighted the fact that they might move into the space if the regulations improve. The bank said they favor the development of crypto regulations under EU law.
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