Bitcoin Forum

The district court of Oslo has ruled in favor of the country’s financial market giant Nordea Bank. Given the possible emergence of issues concerning money laundering and other illegal businesses, the bank has a legitimate right to close the account of the cryptocurrency exchange Bitmynt AS.

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This is not a good development for cryptocurrency enthusiasts in Norway. There are regulations they can subject the cryptocurrency exchange to, for the purpose of combating money laundry, rather than give the bank the legitimate right to close the account of the cryptocurrency exchange.

It is beginning. The crackdown. The European Union introduced harsh legislation against crypto currencies recently aswell. They can't take that everything is becoming decentralized and out of their reach. Once a decentralized system succeeds they can't do anything about it, there is no organisation, no nothing they could attack. Their only advantage now is the gateway to crypto currencies - FAIT. They will loose this in the foreseeable future. If trading is made decentralized even for fait they can't do anything. They are loosing control on all fronts and they are panicking. Decentralized marketplaces like open Bazar is the next thing. On all fronts cryptos are offer decentralized solutions and the government is watching live how things get out of their hand.

Usually it is difficult to really prove that cryptocurrencies and the associated exchanges are not involved in money laundering and other financial crimes.That is why most cryptoexchanges require a kyc before activating user accounts.This isnt good news for Norwegian cryptocurrencies enthusiasts.