This is the seventh EU country where the platform has been granted such a license.
Binance’s Swedish subsidiary Binance Nordics AB has received the registration.
Binance, the biggest cryptocurrency exchange in the world, is now officially recognized as a legal entity in Sweden. By the Swedish Financial Supervisory Authority for the purpose of managing and trading virtual currencies.
Furthermore, after Italy, France, Spain, Poland, Cyprus, and Lithuania. This is the seventh EU country where the platform has been granted such a license. After “months of positive interaction, Binance’s Swedish subsidiary Binance Nordics AB announced that it has received registration with the country’s financial watchdogs.
Upholding Global Standards
Moreover, customers in the region are now legally authorized to use its services. Which include trading, staking, and the ability to buy and sell cryptocurrencies using the Euro. Binance’s Head of Europe and MENA, Richard Teng, has said that the newest registration shows the company’s commitment to working with authorities to “uphold global standards.”
Richard added:
“We are deeply grateful for the support from the Swedish Financial Supervisory 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.”
Furthermore, the exchange’s Head of Benelux, Roy van Krimpen, gave his word that the trading venue has implemented adequate anti-money-laundering (AML) procedures in accordance with Swedish law and regulations.
Moreover, the exchange has already received regulatory approval from six other European Union countries, including France, Italy, and Spain. According to CZ’s comments from last year. Binance is “building a compliance team” that might benefit the company in obtaining a license in Europe’s biggest economy, Germany.
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