Crypto Exchange Binance Receives Regulatory License in Sweden

The largest cryptocurrency exchange in the world is now officially recognized as a legal entity in Sweden.

Swedishthe financial supervisory authority recognized it as legalperson to manage and trade virtual currencies. Also after Italy, France, Spain, Poland, Cyprus and Lithuania. This is the seventh EU country where the platform has received such a license. After “months of positive interactions” Swedish subsidiaryBinance– Binance Nordics AB– announced that it had received registrationin the country's financial supervisory authorities. Moreover, customers in this region now have the legal right to use its services. These include trading, betting, and the ability to buy and sell using Euros.

Head of Binance in Europe and the Middle Eastand North Africa Richard Richard said the new registration demonstrates the company's commitment to working with authorities to “maintain 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 received. Sweden now joins a growing list of global jurisdictions that have granted Binance regulatory approval.

In addition, the head of the exchange in Benelux, Roy vanKrimpen has given his word that the trading platform has implemented adequate anti-money laundering (AML) procedures in accordance with Swedish laws and regulations. Moreover, the exchange has already received regulatory approval from six other European Union countries, including France, Italy and Spain. Based on comments made last year. Binance “is creating a compliance team” that can help the company obtain a license in Europe's largest economy– Germany.