Crypto giant Binance, has announced its Sweden-based subsidiary, Binance Nordics AB, has registered with the Swedish Financial Supervisory Authority (Swedish FSA). According to the official announcement, the company secured the registration as a financial institution for management and trading in virtual currency on 10 January.
The company now has authorisation to offer crypto services in seven EU Member States and fifteen jurisdictions worldwide. Binance is already registered in France, Italy, Lithuania, Spain, Cyprus and Poland.
Richard Teng, Head of Europe and MENA at Binance, commented:
Binance continues to demonstrate its commitment to work closely with regulatory agencies to uphold global standards. Our registration in Sweden is the result of many months of diligent, hard work from our team, underpinning our commitment to the Swedish market and our users. 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.
Roy van Krimpen, Nordics and Benelux Lead, added:
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.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.