- This topic has 14 replies, 1 voice, and was last updated 3 months, 2 weeks ago by Castr0-.
- Sunday, August 21st, 2022 at 12:35 #358839SIR_CUMS_A_LOT_779Participant
I recently switched jobs to a higher paying one in Fintech. It’s better than what I had before so I decided to switch.
Over the last several years I dabbled in crypto and still do (very small investments under 100 EUR).
Devil is in the (contractual) details:
My employer’s compliance department is forcing me to hand over details to my crypto trading accounts even though the job has no links to trading any kinds of securities. This seems like a huge overreach of power.
From the sounds of it, they would be monitoring my bank statements (not sure how) to see if I purchase crypto. How is this legal?Sunday, August 21st, 2022 at 12:35 #358840reddito321
Is it written in your contract that you have to do so? If not, tell them to f off. If it is, contact a lawyer to assess the legality of itSunday, August 21st, 2022 at 12:35 #358841BusinessBreakfast3
Don’t agree to it and ask to be laid off.Sunday, August 21st, 2022 at 12:35 #358842Far_Store4085
If your privvy to data about thier crypto trading then yeah you have to disclose your accounts or you could be committing insider dealings.
If your signed the contract then it’s technically legal, but nothing stopping you from challenging it with an employment solicitor but if you rock the boat they could just let you go as you’ll have no employment rights if its a brand new job.Sunday, August 21st, 2022 at 12:35 #358843Far-Scholar9028
Defi? Thats the best way around thisSunday, August 21st, 2022 at 12:35 #358844TarpFailedMe
People outside of managing money don’t understand what those that do manage money have to go through.Sunday, August 21st, 2022 at 12:35 #358845Plenty-Picture-9445
Reason number 1,087,832,383 to only use non kyc accounts for everything in crypto. Nothing in your name nothing to track nothing to go after nothing for anyone to know about ever.Sunday, August 21st, 2022 at 12:35 #358846Harold838383
Big red flag right there from your employerSunday, August 21st, 2022 at 12:35 #358847PrinceZero1994
Put all your crypto in your SO’s name.Sunday, August 21st, 2022 at 12:35 #358848Dazzling_Formal_6756
Tell you what. You can store all your coins in my crypto walletSunday, August 21st, 2022 at 12:35 #358849kathigitis
You should consult a lawyer in any case, not take what some random redditor says seriously.
In any case, are there any clauses other than termination? They won’t be monitoring your bank statements (which will show any on ramp movement), they will probably simply ask for a statement now, maybe also in the future.
A fintech may not trade securities, but may use DLT when it comes to stablecoins, as an alternative way to transfer money related to PSPs, among other things. They are trying to be better safe than sorry.
Legislation in EU will sooner or later force KYC/AML compliance. I wouldn’t try to bypass that, unless I am 100% sure of the consequences.Sunday, August 21st, 2022 at 12:35 #358850already_night
Funny how they’re not against casinos and gambling, just trading accounts & crypto. The amount of control they wanna have over your life is gross and I suggest you think about the problem at the fundamental level of it.Sunday, August 21st, 2022 at 12:35 #358851kirtash93
Asking for advice to strangers in Internet… What can go wrong right?
You should talk to a lawyer and see if you are forced to do it.Sunday, August 21st, 2022 at 12:35 #358852cestlakalash
As far as I know in many finance companies it’s forbidden to buy specific assets to prevent you from insider trading, but I’ve never heard the need of handing over crypto trading account details as long as your company isn’t involved in any kind of crypto company or trading. I would recommend to get in contact with your future employer and have a talk about that or you inform yourself about the law and based on that result you whether tell your employer about the situation or you get you a lawyer and trying to sue them.Sunday, August 21st, 2022 at 12:35 #358853Castr0-
so looks like is your time to restricting them to your funds.
Is your money.
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