This amendment will become effective from January 18, 2021.Customers will be able to transact in cryptocurrency, for personal use, using a Coop Pank current account.
The bank said that while banks also remain careful and cautious about cryptocurrency due to the risk of money laundering, it no longer sees any reason to restrict bank customers from buying and selling cryptocurrency for personal use.
Recently, institutional investors have shown more interest in bitcoins and more confidence in cryptocurrencies, and Cryptocurrency Funds (COINXBE and COINETHE) based in Estonia have successfully traded on the Stockholm Exchange.
In general, banks still need to create the necessary financial risk mitigation measures and train their staff.
For service providers, stricter rules will remain for the time being, with the inability to use the Coop Pank platform due to their lack of a license.
