Danish Bank Saxo Ordered to Sell Crypto Holdings Due to Regulatory Concerns
Danish bank Saxo has been ordered by Denmark's financial regulator to divest its own cryptocurrency holdings due to regulatory concerns. The Danish Financial Supervisory Authority stated that banks conducting such activities as ancillary bank business is not legal under current regulations. The activity is unregulated until the European Union's crypto regulation takes effect in December 2024.
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Danish Bank Saxo Ordered to Sell Crypto Holdings Due to Regulatory Concerns
Danish bank Saxo has been ordered by Denmark's financial regulator to divest its own cryptocurrency holdings due to regulatory concerns. The Danish Financial Supervisory Authority stated that banks conducting such activities as ancillary bank business is not legal under current regulations. The activity is unregulated until the European Union's crypto regulation takes effect in December 2024.