The local branch of cryptocurrency exchange Binance has received authorization from the Swedish Financial Supervisory Authority, one of the nation’s financial regulatory bodies, to maintain and trade digital currencies.
In a Jan. 11 press release, Binance claimed that the financial regulator had awarded Binance Nordics AB’s registration status on Jan. 10 after “months of positive engagement” with the company. As a result of this ruling, residents of Sweden can now use Binance’s cryptocurrency services.
According to Roy van Krimpen, the region’s director for Binance, “Sweden fully embraces EU legislation and has additional local needs, thus we have been careful to ensure that Binance Nordics AB has enacted risk and AML measures to fit this high standard.” The successful migration and launch of local operations, along with the employment of local talent, planning more events, and providing more crypto education in Sweden, will be our next major goal.
The Swedish Financial Supervisory Authority has approved Hej Sweden #Binance’s registration.
With this registration, we are able to provide residents of Sweden with access to a wide range of our regulated crypto and Web3 services, further solidifying our dedication to compliance throughout Europe.
The financial regulator in Sweden made its judgement after similar approvals for Binance were given in 2022 by regulators in France, Bahrain, Spain, and Dubai. Authorities in some nations, including the United States, United Kingdom, Canada, and Japan, previously clamped down on the exchange’s operations and cautioned potential investors about the dangers associated with digital assets.
A preliminary agreement allowing Binance.US to acquire more than $1 billion in assets from Voyager Digital, which filed for bankruptcy in July, was granted by a U.S. court on January 10. Prior to Voyager’s bankruptcy in November, FTX had intended to purchase its assets, leaving them once more available for purchase.