8 February 2023

Binance Now Authorized in 7 EU Countries — Sweden Becomes Latest Member State to Give Approval

Binance Now Licensed in 7 EU Countries — Sweden Becomes Latest Member State to Approve the Crypto Exchange

Crypto exchange Binance is now legal to operate in seven European countries following the latest approval by Sweden’s financial regulator. Overall, Binance has been approved to operate in 15 jurisdictions, including seven EU countries.

Binance Approved to Operate in 7 EU Countries

Cryptocurrency exchange Binance announced Thursday that its Swedish entity, Binance Nordics AB, “has been granted registration as a financial institution for management and trading in virtual currency by the Swedish Financial Supervisory Authority (Swedish FSA).” Binance explained:

Sweden becomes the seventh EU Member State in which Binance has been granted authorization, following authorizations in: France, Italy, Lithuania, Spain, Cyprus, and Poland.

Per Nordkvist, deputy head of the Swedish Financial Supervisory Authority’s banks division, 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 further local requirements, so we have been careful to ensure that Binance Nordics AB has adopted risk and AML [anti-money laundering] policies to match this exacting standard,” said Binance’s Nordics and Benelux lead, Roy van Krimpen. He further revealed:

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.

Overall, Binance has received regulatory permissions or approvals in 15 jurisdictions. Outside of Europe, the crypto exchange has received authorization to provide services in Bahrain, Australia, New Zealand, Canada, and South Africa. It has also received approval from Kazakhstan’s Astana International Financial Centre, Abu Dhabi Global Market, and 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.

What do you think about Binance’s efforts to expand globally? Let us know in the comments section below.

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