Binance, one of the world’s leading cryptocurrency exchanges, has recently been granted a regulatory license in Sweden. This news comes as a major development for Binance and the crypto industry as a whole, as it further solidifies the legitimacy of digital currencies within governmental bodies.
The license was issued by the Swedish Financial Supervisory Authority (SFSA), which is responsible for regulating Sweden’s financial markets. The license will allow Binance to provide cryptocurrency exchange services as well as custodial wallet services in the country.
This new license marks a major milestone for both Binance and the crypto industry, as it shows that governments are taking digital currencies seriously. It also provides a much-needed boost for the crypto market, as it gives investors more confidence to invest in digital assets.
The news has been welcomed by many in the crypto community, who view this as an important step towards regulation and mass adoption of digital currencies. The license also opens up new opportunities for Binance, allowing them to expand its services to the Swedish market.
Binance Got License In 7 EU Nations
Binance has now attained a license in its seventh European Union nation, following Italy, France, Spain, Poland, Cyprus, and Lithuania.
Richard Teng, Head of Europe and MENA at Binance, declared that the recent registration exhibits the organization’s pledge to interact with regulators so as to uphold global standards.
“We are deeply grateful for the support from the Swedish Financial Supervisory Authority throughout the application process and for the approval. Sweden is now amongst the growing list of global jurisdictions that have granted regulatory approval to Binance,” He continued, his voice full of enthusiasm.
Last year, CZ declared that Binance had plans to construct a compliance team with the aim of acquiring a license in Germany’s biggest economy.
