Saxo Bank allows its clients to trade several cryptocurrencies on its platform.
The regulator said that the firm provides many crypto-linked ETFs and ETNs.
Denmark’s financial watchdogs are cracking down on cryptocurrency exchanges and payment processors. This is after they banned local banks from holding cryptocurrencies to protect themselves from trading risks.
Saxo Bank, a Danish financial firm, was formally forced to sell its crypto assets by the Danish Financial Supervisory Authority (DFSA) on July 4.
According to the Danish Financial Supervisory Authority, Saxo Bank’s crypto operation “lies outside of the legal business area of financial institutions,” according to Article 24 of the Danish Financial Business Act.
Trading for Its Own Account
The DFSA reports that Saxo Bank allows its clients to trade several cryptocurrencies on its platform. The regulator said that the company provides many crypto-linked ETFs and ETNs, and that “it is possible to speculate on crypto asse
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