Norwegian cryptocurrency exchange Bitmynt AS has lost its case against Scandinavian financial services giant Nordea, local news E24 reports May 4. The ruling concludes a case, in which Bitmynt founder Sturle Sunde sued Nordea for closing the exchange’s account.
Sturle Sunde first brought legal action against Nordea in December of last year, when Nordea closed Bitmynt’s account over concerns of inadequate anti-money laundering mechanisms and terrorist financing risks. According to local news digi.no, this made Sunde ineligible to register with the Brønnøysund Register Centre to establish limited liability. The ruling of the Oslo District Court reads:
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