Binance's New Swedish Registration Marks 7th Regulatory License in EU

Binance Nordics AB, the Swedish subsidiary of the top cryptocurrency exchange, Binance, has been registered as a virtual currency trading and management institution by the Swedish Financial Supervisory Authority (Swedish FSA).

The new license marks the digital asset company’s seventh regulatory approval within the European Union region. Thus, Binance is now approved as a digital asset service provider in 15 jurisdictions across the world.

Hej Sweden 🇸🇪#Binance has been granted registration by the Swedish Financial Supervisory Authority.Furthering our commitment to compliance across Europe, this registration gives residents in Sweden access to a broad range of our regulated crypto and Web3 services.

Binance in a blog post noted that the registration was granted following “months of constructive engagement” with the Swedish FSA.

“As the world’s largest digital asset exchange, this registration means that Swedish residents will now be able to access Binance’s broad range of crypto and Web3 services, including popular euro deposits and withdrawals, crypto buying with euro, trading, staking and the Binance Visa Card,” Binance wrote in the blog post.

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Binance Racks up Licenses after Battle with Regulators

Binance’s expansion of its regulatory licenses comes after the top crypto exchange battled opposition from several regulators for operating without approval in their jurisdictions.

In Europe, the exchange has now been granted regulatory approval by France, Italy, Spain, Cyprus, Lithuania and Poland.

Moreover, the crypto exchange boasts of being approved in other regions of the world. These include licenses from Australia, New Zealand and Japan in the Asia-Pacific region, Abu Dhabi Global Market, Bahrain and the Dubai World Trade Centre in the Middle East, Canada in the Americas, and South Africa in Africa.

“Our next big task will be the successful migration and launch of local operations, including hiring of local talent, organizing more events and delivering more crypto education in Sweden,” Roy van Krimpen, Binance’s Nordics and Benelux Lead, explained.

Meanwhile, Finance Magnates reports that Binance is seeking to acquire GOPAX, a top Korean crypto exchange. The exchange plans to buy out the CEO of GOPAX, Lee Jun-Haeng’s majority shareholding in the digital asset exchange business.