Saxo Bank Ordered To Get Rid of All Crypto Asset Holdings by Danish Regulators.
06 Jul 2023, 08:00
Saxo Bank Ordered To Get Rid of All Crypto Asset Holdings by Danish Regulators
Danish authorities are ordering an $11 billion investment bank to get rid of its digital asset holdings after deeming the firm’s trading activities unlawful.
According to a new press release by The Danish Financial Supervisory Authority, Saxo bank must dispose of its crypto assets in adherence to the regulator’s declaration that local banks are not allowed to hold crypto to hedge against other trading activities.