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Binance Crypto Exchange Receives Permission to Operate in Sweden

Copenhagen, 12 Jan. The Binance cryptocurrency exchange announced this week that the Swedish Financial Supervisory Authority (FSA) has authorized the registration of subsidiary Binance Nordics as a financial institution for trading virtual currency.

With this, Sweden becomes the seventh country in the European Union (EU) where Binance receives authorization to operate, behind France, Italy, Lithuania, Spain, Cyprus and Poland.

“Sweden is already among the growing list of global jurisdictions that have granted Binance regulatory approval,” said the company’s director for Europe and the Middle East, Richard Teng, according to a statement released to the media today.

This implies that Swedish residents will now be able to access services such as deposits and withdrawals in euros, the purchase of cryptocurrency with euros and the purchase and sale of digital assets, among others.

The company founded in China in 2017 is the world’s largest digital asset exchange in terms of volume and has been the subject of investigations for alleged money laundering in the United States.

Binance today announced its intention to increase its workforce between 15 and 30% in the course of 2023, a situation that contrasts with that of its competitors in the cryptocurrency market. EFE

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