Sweden Now Becomes The 7th EU Country To License Binance To Operate
- The Financial Supervisory Authority of Sweden has accepted Binance’s registration, making it the seventh European country to give the cryptocurrency exchange license.
- In addition to many other services, Swedish citizens will now be able to utilize Binance’s staking service, buy and sell cryptocurrency in euros, and use the exchange’s Visa card.
- After registering in France, Italy, Lithuania, Spain, Cyprus, and Poland, Binance has now done so in Sweden.
After months of positive interaction with the regulator, Binance has registered with Sweden’s Financial Supervisory Authority.
The Swedish Financial Supervisory Authority (Swedish FSA) has registered Binance Nordics AB as a financial institution for the management and trading of virtual currency.
With this registration, Swedish citizens will now have access to a wide range of crypto and Web3 services offered by Binance, the largest digital asset exchange in the world, including popular euro deposits and withdrawals, euro-based crypto purchases, trading, staking, and the Binance Visa Card.
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 Services 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.”
After being authorized in France, Italy, Lithuania, Spain, Cyprus, and Poland, Binance is now authorized in Sweden, making it the seventh EU member state.
Currently, the exchange is still very limited to the US market. As Coincu reported, federal prosecutors are looking into the operations of American hedge funds with cryptocurrency exchange Binance. Legal experts warned that just though there have been subpoenas issued, it does not always guarantee that charges would be filed. As they consider whether they have enough evidence to file charges against the exchange, prosecutors are still talking about a potential settlement with the firm.
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