The Swedish Financial Supervisory Authority, one of the country’s financial regulatory agencies, has granted approval to the local arm of cryptocurrency exchange Binance to manage and trade digital currencies.
According to a January 11 announcement, Binance saying Following “months of constructive engagement” with the financial regulator, the Swedish FSA granted Binance Nordics AB registration status on January 10. This decision effectively allows Swedish residents to access Binance’s crypto 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 meet this exacting standard,” said Roy van Krimpen, lead at Binance in the region. “Our next big task will be the successful migration and launch of local operations, including hiring local talent, hosting more events and delivering more crypto education in Sweden.”
hello sweden #Binance has been registered by the Swedish Financial Supervisory Authority.
To further our commitment to compliance across Europe, this registry gives Swedish residents access to a wide range of our regulated Web3 and crypto services.
—Binance (@binance) January 11, 2023
The Swedish financial authority’s decision followed regulators in France, Bahrain, Spain and Dubai granting similar approvals for Binance in 2022. Authorities in certain countries, including the US, UK, Canada and Japan, took action. cracked down on the exchange’s operations and warned potential investors. about the risks surrounding digital assets.
Related: Binance Rejects Report That Stablecoin Is Not Fully Supported
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 it collapsed in November, making them available once again.
