Crypto-currency exchange Binance is now legal to operate in seven European countries following the latest approval from Sweden’s financial regulator. Overall, Binance has been approved to operate in 15 jurisdictions, including seven EU countries.
Binance approved to operate in seven EU countries
Crypto-currency exchange Binance announced Thursday that its Swedish entity, Binance Nordics AB, “has been granted registration as a financial institution for the management and trading of virtual currency by the Swedish Financial Supervisory Authority (Swedish FSA)“. Binance explained:
Sweden becomes the seventh EU member state in which Binance has received authorization, following authorizations in: France, Italy, Lithuania, Spain, Cyprus and Poland.
Per Nordkvist, deputy head of the banking division at the Swedish Financial Supervisory Authority, 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 other local requirements, so we have taken care to ensure that Binance Nordics AB has adopted risk management and anti-money laundering measures. We have therefore ensured that Binance Nordics AB adopts risk management and anti-money laundering policies in line with these stringent standards,” said Roy van Krimpen, head of Binance Nordics and Benelux. He also revealed:
Our next big task will be the successful migration and launch of local operations, including hiring local talent, organizing more events and providing more crypto education in Sweden.
Overall, Binance has received regulatory authorizations or approvals in 15 jurisdictions. Outside of Europe, the crypto-currency exchange has received approval to provide services in Bahrain, Australia, New Zealand, Canada and South Africa. It has also received approval from the Astana International Financial Center in Kazakhstan, the Abu Dhabi Global Market and the Dubai World Trade Center.
Binance said this week that it has joined the Association of Certified Sanctions Specialists (ACSS), which works to improve the qualification of sanctions compliance professionals employed by global companies.