Binance Approved to Offer Crypto Services to Swedish Clients

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The Swedish Financial Supervisory Authority, one of the country’s financial regulatory agencies, has granted local branch of crypto exchange Binance permission to manage and trade digital currencies.

According to a January 11 announcement, Binance said that after months of constructive engagement with the financial regulator, the Swedish FSA granted registration status to Binance Nordics AB on January 10. This move effectively allows Swedish residents to access Binances crypto services.

“Sweden fully adopts EU laws and has other local requirements, so we have ensured that Binance Nordics AB adopts risk and anti-money laundering policies to meet this rigorous standard” , said Roy van Krimpen, head of Binances in the region. Our next big task will be the successful migration and launch of local operations, including hiring local talent, hosting more events, and delivering more crypto education in Sweden.”

Hej Sweden #Binance has been registered by the Swedish Financial Supervisory Authority.

As an extension of our commitment to compliance across Europe, this registration allows Swedish residents access to a wide range of our regulated crypto and Web3 services.

— Binance (@binance) January 11, 2023

The decision by the Swedish financial authority follows regulators in France, Bahrain, Spain and Dubai which granted similar approvals for Binance in 2022. Authorities in some countries, including the United States, the United Kingdom United, Canada and Japan, have previously cracked down on swap deals, warning potential investors. on the risks associated with digital assets.

Related: Binance Pushes Back Report That Stablecoin Not Fully Backed

On January 10, a US court approved a preliminary agreement allowing Binance.US to purchase more than $1 billion in assets from Voyager Digital, which filed for bankruptcy in July. FTX had planned to acquire Voyagers’ assets before it collapsed in November, leaving them up for grabs again.

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