Denmark's Financial Watchdog Orders Saxo Bank to Shed Its Crypto Holdings
The Danish Financial Supervisory Authority's explained that it isn't legal for banks to conduct such activity as ancillary bank business for reasons of financial stability under current regulations
The Danish Financial Supervisory Authority's (FSA) explained that it isn't legal for banks to conduct such activity as ancillary bank business for reasons of financial stability under current regulations
The financial watchdog said
that since the European Union's crypto regulation, known as markets for cryptoassets regulation (MiCA), only comes into effect from 30 December 2024, the activity is unregulated for the time being.
"Unregulated trading in crypto-assets can create distrust in the financial system, and the Danish FSA considers that it would be unfounded to legitimize trading in crypto-assets
