Binance secures regulatory approval from Sweden
In addition to pursuing regulatory approval, Binance has also continued to expand its workforce.
Exchange of cryptocurrency Binance has received regulatory approval from the Financial Supervisory Authority (Finansinspektionen), which makes it possible to offer its services to Swedish society. Binance Nordics, the local arm of Binance, received regulatory approval after months of deliberations with the authorities.
Accordingly, Swedish customers will be able to use Binance’s services, including asset trading, staking and several Web3 services.
Nordics and Benelux Lead, Roy van Krimpen, stated that Binance Nordics AB’s risk and AML policies adhere to EU standards. “Our next big task will be the successful migration and launch of local operations in Sweden,” he added.
In pursuit of regulatory approval
The Swedish license brings the total number of European licenses obtained by Binance to seven. The exchange has previously obtained licenses in Cyprus, France, Italy, Lithuania, Poland and Spain. It also has regulatory approval in 14 other jurisdictions globally.
Since its regulatory failures in Japan, Hong Kong, Ontario and the UK in 2021, Binance has been constantly pursuing regulatory approvals in multiple markets. Binance CEO Changpeng Zhao has also repeatedly mentioned the exchange’s commitment to regulations.
Head of European Operations, Richard Teng, noted that the company remains committed to cooperating with local regulatory authorities and maintaining the highest service standards. “Our registration in Sweden is the result of many months of diligent, hard work by our team, which underpins our commitment to the Swedish market and our users,” he concluded.
In December, the exchange joined the Chamber of Digital Commerce as part of efforts to promote the sustainable development of sensible cryptocurrency and blockchain regulations. More recently, Binance became the first crypto company to join the Association of Certified Sanctions Specialists (ACSS). According to ACSS Executive Director Saskia Rietbroek, Binance’s participation will help promote compliance in the crypto sector.
Binance continues to hire
In addition to pursuing regulatory approval, Binance has also continued to expand its workforce. While many crypto companies laid off employees to stay afloat, CZ claimed the exchange’s workforce grew from 3,000 to around 8,000 by 2022.
Furthermore, CZ noted that the exchange has plans to increase its number of employees by up to 30%. At the time of writing, Binance has 683 open positions on its Career page.
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