The Swedish Financial Supervisory Authority registered Binance, the world’s largest cryptocurrency exchange, as a financial institution for virtual currency management and trading in Sweden. This is the seventh EU country in which the platform has been granted such a license, following Italy, France, Spain, Poland, Cyprus, and Lithuania.



Binance set to offer crypto services in Sweden



In a Jan. 11 press release , the entity stated that the financial regulator had awarded Binance Nordics AB’s registration status on Jan. 10 after “months of constructive engagement” with the company. As a result of this ruling, residents of Sweden can now use Binance’s cryptocurrency services.



Sweden fully adopts EU laws and has further local requirements, so we have been careful to ensure that Binance Nordics AB has adopted risk and AML policies to match this exacting standard. Our next big task will be the successful migration and launch of local operations, including hiring of local talent, organizing more events, and delivering more crypto education in Sweden. Roy van Krimpen, Binance’s lead in the region



The approval allows local users to access its products and services, including purchasing cryptocurrencies with euros, withdrawing money in exchange for fiat currency, trading, and staking.



The most recent registration, according to Binance’s Head of Europe and MENA, Richard Teng, shows the company’s dedication to working with authorities to “uphold global standards.” He also added:



We are deeply grateful for the support from the Swedish Financial Supervisory Authority throughout the application process and for the approval. Sweden is now amongst the growing list of global jurisdictions that have granted regulatory approval to Binance. Richard Teng



The Swedish financial regulator’s decision reinforces the exchanges’ recent dominance in the crypto space. In the past, authorities in some nations, including the US, UK, Canada, and Japan, have taken action against the exchange’s operations and alerted potential investors to the dangers associated with digital assets.




Hej Sweden