March 30 2018
Denmark’s largest bank warns its customers about crypto money transactions . Danske Bank in Copenhagen, Denmark, warns customers about crypto money transactions with a statement posted on its website. The bank, which has branches in Norway, Trondheim and Vilnius Lithuania , is currently not allowed to process crypto-currency transactions on its website.
The bank claims that crypto money is devoid of investor and consumer protection. Cryptographic currencies are not supported by the central bank. For this reason, the bank claims that crypto money is generally devoid of investor and consumer protection associated with traditional currencies and investments.
Secondly, the bank says that cryptographic currencies are highly volatile and price formation is not transparent. For this reason, investors have a very limited understanding of how the market develops and which factors influence price.