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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In a move aimed at tightening regulations in the cryptocurrency sector, Danish financial regulators have taken action against cryptocurrency service providers, specifically targeting local banks from holding cryptocurrency assets as a means of mitigating trading risks. The
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Financial regulators in Denmark are coming after cryptocurrency service providers, declaring that local banks are not allowed to hold cryptocurrency to hedge against trading risks.On July 4, the Danish Financial Supervisory Authority (DFSA) officially ordered the local investment bank Saxo bank to dispose of its own holdings in crypto.The regulator
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"Saxo Bank A/S' trading in crypto assets for its own account has taken place in order to cover risks in connection with the offering of other financial products," the statement said. "However, this does not change the fact that the activity, in itself, is not permitted for Danish financial institutions
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While the cryptocurrency prices are calm and investor interests remain low, blockchain’s potential to transform and disrupt industries keeps attracting those eager to build regardless of digital asset prices. Lars Seier Christensen, founder of investment banking firm Saxo Bank, told Cryptox that blockchain’s inherent features made him decide to jump into
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As popular music streaming services like Spotify cut much of musicians’ revenues, new technologies like nonfungible tokens (NFT) will likely help artists grab back their fair share, Saxo Bank predicted.According to one of Saxo Bank’s “Outrageous Predictions 2022: Revolution,” music creators will benefit from NFT-based streaming platforms, as they allow distributing music
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Major Danish bank Saxo Bank has predicted that Asia will launch its own blockchain-based digital asset in its new report of smashing predictions for 2020.The latest edition of “Outrageous Predictions” by Saxo Bank also forecasts that President Donald Trump will likely lose the 2020 elections, while Hungary will leave
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