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Binance secures regulatory approval in Sweden

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Binance secures regulatory approval in Sweden 5

The Swedish financial regulators granted Crypto regulatory approval for the Binance Crypto exchange.

Binance is a first ranked Crypto exchange, in terms of 24 hours global Crypto trade volume on its platform. The services of this exchange are available globally. Due to the better safety of the funds on this platform, the majority of Crypto traders prefer this platform.

On 11 Jan 2023, the Binance exchange announced that the Swedish Financial Supervisory Authority (SFA) approved the Binance exchange to provide Crypto services in the Crypto industry of Sweden.

Roy van Krimpen, Binance’s lead in the region, also commented on this success of Binance and said that the team has been following all the mandatory rules like AML laws.

Roy further added:

“Our next big task will be the successful migration and launch of local operations, including the hiring of local talent, organizing more events, and delivering more crypto education in Sweden.”

Changpeng Zhao, CEO & founder of the Binance exchange, also responded to this new achievement of Binance exchange and noted that the current regulatory environment is strict to obtain a licence. Indirectly, Binance CEO hinted at the hard efforts that the Binance team is doing to secure regulatory approval in the world.

Earlier this, in late 2022, Binance secured a similar kind of regulatory approval from the regulators in France, Bahrain, Spain, and Dubai.

Recently BinanceUS, a subsidiary of Binance exchange, secured approval from the court to purchase $1 billion worth of assets from bankrupt Crypto lender Voyager Digital, which filed for bankruptcy in July 2022.

Binance exchange always remains ready to support Crypto education in the world through its financial support and it is because Binance CEO believes education is key to adoption.

Read also: FTX bankruptcy team collects $5B worth of assets

Binance secures regulatory approval in Sweden

 

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