The soaring popularity of cryptocurrencies has definitely gained the attention of global regulators. Global cryptocurrency exchanges are obtaining regulatory licenses to operate in various countries. Forward-thinking countries are also providing regulatory approval for these exchanges so they can flourish in their nations.
Binance, one of the largest cryptocurrency exchanges, has an established presence across the globe. According to the details of a press release, the global cryptocurrency exchange has been granted regulatory approval by the Swedish Financial Supervisory Authority (FSA).
Sweden is the seventh EU member to grant Binance approval
Binance can now operate and also provide its services in Sweden. It is now registered as a financial institution under the FSA. Swedish residents can now get access to Binance’s various services, including trading, staking, deposits, withdrawals. Additionally, users can access the Binance Visa card.
Sweden is the seventh European Union member state to grant authorization to the global cryptocurrency exchange as a result of this regulatory approval. The registration in Sweden is additionally followed by the exchange’s registration in France, Italy, Lithuania, Spain, Cyprus, and Poland.
“Binance continues to demonstrate its commitment to work closely with regulatory agencies to uphold global standards. “Our registration in Sweden is the result of many months of diligent, hard work from our team, underpinning our commitment to the Swedish market and our users,” said Richard Teng, Head of Europe and MENA at Binance.