The Swedish Financial Supervisory Authority, one of the country’s financial regulators, has granted the local affiliate of cryptocurrency exchange Binance approval to manage and trade digital currencies.
According to a Jan. 11 statement, Binance said that after “months of constructive engagement” with the financial regulator, The Swedish FSA granted Binance Nordics AB registry status on January 10. This decision allows Swedish residents to access Binance’s cryptocurrency services.
“Sweden fully adopts EU laws and has more local requirements, so we have been careful to ensure that Binance Nordics AB has adopted AML and risk policies to match this exacting standard”said Roy van Krimpen, Binance’s lead in the region. “Our next big task will be the successful migration and launch of local operations, including recruiting local talent, hosting more events and delivering more crypto education in Sweden.”
Hej Sweden #Binance has been granted registration by the Swedish Financial Supervisory Authority.
Furthering our commitment to compliance across Europe, this registration gives residents in Sweden access to a broad range of our regulated crypto and Web3 services.
—Binance (@binance) January 11, 2023
Hej Sweden, Binance has obtained registration from the Swedish Financial Supervisory Authority.
Reinforcing our commitment to compliance across Europe, this registration allows residents of Sweden to access a wide range of our regulated cryptocurrency and Web3 services.
The Swedish financial authority’s decision comes after regulators in France, Bahrain, Spain and Dubai granted similar authorizations to Binance in 2022. Authorities in some countries, including the United States, United Kingdom, Canada, and Japan, had already cracked down on the exchange’s operations, warning potential investors of the risks surrounding digital assets.
On Jan. 10, a US court approved a preliminary agreement allowing Binance.US to purchase more than $1 billion in assets from Voyager Digital, which filed for bankruptcy in July. FTX had planned to acquire Voyager’s assets before its bankruptcy in November, leaving them up in the air again.
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