The legality of Binance in seven European nations has now been established. Sweden being the most recent member state to give the cryptocurrency exchange the go-ahead.
Binance Receives Regulatory Approval in EU Countries
Cryptocurrency Exchange Binance announced on Thursday that its Swedish entity, Binance Nordics AB, has been registered as a financial institution to manage and trade virtual currency by the Swedish Financial Supervisory Authority (Swedish FSA). Binance further stated:
Sweden is the seventh EU nation to give approval to Binance, following authorizations in France, Italy, Lithuania, Spain, Cyprus, and Poland.
Deputy head of the banking section at the Swedish Financial Supervisory Authority, Per Nordkvist, told Reuters that the FSA registration allows Binance to launch a Swedish market in order to offer its digital asset services to consumers directly through a website in the country’s language, Nordic.
“Sweden fully adopts EU laws and has more local requirements, so we have been careful to ensure that Binance Nordics AB has embraced risk and anti-money laundering (AML) policies to match this exacting standard,” stated Roy van Krimpen, Binance’s Nordics and Benelux leader. Further details were provided:
Our next major task will be to successfully launch local operations in Sweden.
In total, Binance has obtained regulatory approvals or permits in 15 countries. Apart from Europe, the crypto exchange has also been cleared to offer services in Bahrain, Australia, New Zealand, Canada?, and South Africa. It has also received approval from Kazakhstan’s Astana International Financial Center, Abu Dhabi Global Market, and Dubai World Trade Center.
This week, Binance also announced that it had joined the Association of Certified Sanctions Specialists (ACSS), which works to enhance the qualifications of international companies’ sanctions compliance professionals.
What do you think about Binance’s global expansion efforts? Let us know your thoughts in the comments section below.
Images credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is meant for information purposes only. It is not an offer to buy, sell, or solicitation. It does not endorse any product, company, or service. Bitcoin.com is not a provider of investment, tax, legal, or accounting advice. Neither the company nor the author shall be held liable for any damages, losses, or costs caused by, or in connection to, the use of, or reliance upon any content, goods, and services mentioned in this piece.
