Binance Now Gets Operating Permit in Sweden

Binance can operate in Sweden. (photo: twitter @binance)

JAKARTA - The Swedish Financial Supervisory Authority (FSA), has given approval to Binance to manage and trade digital currencies in the country.

According to the announcement on January 11, Binance said that after “months of constructive engagement” with financial regulators, the FSA granted Binance Nordics AB registration status on January 10. This decision effectively allows Swedish citizens to access Binance's crypto services.

Hej Sweden 🇸🇪#Binance has been granted registration by the Swedish Financial Supervisory Authority.

Furthering our commitment to compliance across Europe, this registration gives residents in Sweden access to a broad range of our regulated crypto and Web3 services.

— Binance (@binance) January 11, 2023

“Sweden fully adopts EU law and has further local requirements, so we are careful to ensure that Binance Nordics AB has adopted risk and AML policies to comply with these stringent standards,” said Roy van Krimpen, Binance regional head the.

“Our next big task will be the successful migration and launch of local operations, including recruiting local talent, organizing more events and providing more crypto education in Sweden,” said Krimpen as quoted by Cointelegraph.

The decision from Swedish financial authorities follows regulators in France, Bahrain, Spain, and Dubai granting similar approvals for Binance in 2022. Authorities in certain countries — including the United States, United Kingdom, Canada, and Japan — have previously cracked down on exchange operations, warned candidates investors about the risks surrounding digital assets.

On January 10, a US court approved a preliminary agreement that allowed Binance.US to purchase more than USD 1 billion worth of assets from Voyager Digital, which declared bankruptcy in July. FTX had also planned to acquire Voyager's assets prior to its collapse last November, leaving it up for grabs once again.