Nordea Bank AB, one of Europe’s banking giants, has revealed that it is prohibiting all 31,000 of its workers from trading and exchanging cryptocurrencies such as Bitcoin.

This latest news comes after the bank’s headquarters relocated to Finland from Sweden, last year. A spokesperson for the bank explained that the risk of trading digital currency was very high and employees could become entangled in an illegal activity. Nordea’s press officer Afroditi Kellberg also said that protection from such criminal activity does not suffice for the bank or its employees and Nordea was concerned over this lack of legislation.

The halt on trading will begin on 28th February, and the bank has confirmed that employees who have invested in cryptocurrency such as bitcoin will be permitted to keep them, but they are advised to sell.

In November 2016, Sweden\'s Central Bank announced that it was considering offering its own virtual token and James Pomeroy, HSBC global economist has argued that Sweden could be the first nation with its very own cryptocurrency. He concluded by saying that the UK, US and mainland Europe were much further behind Sweden and that we should expect to see exciting things from the country very soon.