DNB, Norway’s largest bank, has dismissed Norges Bitcoinforening, a recently-formed, non-profit bitcoin association, over concerns about terrorist financing and money laundering, according to e24.no, a Norwegian news site. Norges Bitcoinforening has since decided to take its business elsewhere.
The association opened a bank account in August to receive dues and donations which can be made in bitcoin. DNB advised the association within three weeks that they were no longer a customer. The notice said, “DNB can not be confident about the association’s money has no connection with money laundering or terrorist.”
Association Wants Answers
The association asked the bank what rules it broke, but it has not received a response, according to association leader Stephan Nilsson.
The association has 832 million crowns in its account,