Crypto exchange Binance is now legal to operate in seven European countries following the latest approval by Sweden’s financial regulator. Overall, Binance was approved to operate within 15 jurisdictions, seven of which are EU countries.
Binance Approved for Operation in 7 EU Countries
Cryptocurrency exchange Binance announced Thursday that its Swedish entity, Binance Nordics AB, “has been granted registration as a financial institution for management and trading in virtual currency by the Swedish Financial Supervisory Authority (Swedish FSA).” Binance explained:
Following authorizations in France, Italy, Spain, Cyprus and Poland, Binance is now authorized in Sweden, making it the seventh EU member state.
Per Nordkvist, deputy head of the Swedish Financial Supervisory Authority’s banks division, told Reuters that the FSA registration allows Binance to launch a website in Swedish and market its digital asset services directly to consumers in the Nordic country.
“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 [anti-money laundering] policies to match this exacting standard,” said Binance’s Nordics and Benelux lead, Roy van Krimpen. He also revealed:
The next major task is to successfully migrate and launch local operations. This includes hiring local talent, organizing more events, and providing more crypto education in Sweden.
Binance has received approvals or regulatory permissions in 15 jurisdictions. The crypto exchange has been authorized to offer services in Australia, New Zealand and South Africa, as well as in Europe. It has also received approval from Kazakhstan’s Astana International Financial Centre, Abu Dhabi Global Market, and Dubai World Trade Center.
Binance announced this week it joined the Association of Certified Sanctions Specialists. This association works to improve the qualifications of professionals working in sanctions compliance for global companies.
What do you think about Binance’s efforts to expand globally? Please leave your comments below.
Kevin Helms
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