Danske Bank strongly recommends that customers refrain from investing in cryptocurrencies

Over the past years, the debate about digital currencies has given rise to questions from both customers and investors. Overall, we are negative towards cryptocurrencies due to different reasons.

Cryptocurrencies are not backed by a central bank, have turned out to be highly volatile, and the price formation is non-transparent. Moreover, the lack of transparency and regulatory control have made cryptocurrencies a target for criminal purposes and we know that they on several occasions have been involved in criminal transactions like money laundering or extortion.

For these reasons, it is not possible to trade cryptocurrencies on our trading platforms. However, we monitor the market closely, and if the cryptocurrency market becomes more transparent and mature, we might reconsider this position.