Post
Topic
Board Bitcoin Discussion
Re: Bank in Norway now supports Bitcoin
by
Juggy777
on 15/05/2017, 12:53:33 UTC
A bank called Skandiabanken in Norway now supports Bitcoin. However you cannot purchase the Bitcoins through the bank, you'll be redirected to Coinbase in order to buy.

I don't have this bank myself, so I cannot test this. It seems like it's just linked to Coinbase and the bank does not store the coins on their servers.

This feature is in a beta phase, and the laws in Norway could cause conflicts. I think this is a huge step, and I hope this will soon be supported in more banks. This feature is mainly for investors, you cannot use it to pay bills and such.

Here's a link to the article translated to English:  https://translate.googleusercontent.com/translate_c?depth=1&nv=1&rurl=translate.google.no&sp=nmt4&tl=en&u=http://e24.no/privat/bitcoin/naa-faar-du-bitcoin-i-nettbanken-kan-ikke-fornekte-ny-teknologi/23996559&usg=ALkJrhjVd47hlRvCuPcMw4r7-8SKmywfYw

That's a bold statement from the Norway bank, and this will lead support for more banks to adopt this kind of technology. But this bank has no branches and does transactions online does that raise any issue, or the fact coinbase.com will holds coins is valid. Though this is a welcome move, another thing that is worth thinking if the tax authorities of Norway demand details will the bank be forced to give? As we know Coinbase.com does not give details this is one issue which needs to be considered. Right now it's in beta phase, and it will be interesting to see how other banks react to this and will other banks follow suit.