Binance Now Approved in Sweden: Access Cryptocurrency Trading & IEOs

• Binance has secured regulatory approval in Sweden, becoming the seventh EU jurisdiction to do so.
• The Swedish Financial Supervisory Authority has registered Binance as a financial institution for management and trading in virtual currency.
• Binance Nordics AB has obtained registration from the country’s financial watchdogs after „months of constructive engagement.“

Binance, the world’s largest cryptocurrency exchange, has secured regulatory approval in Sweden, becoming the seventh EU jurisdiction to do so. The Swedish Financial Supervisory Authority registered Binance as a financial institution for management and trading in virtual currency in the Scandinavian country. This means that local consumers are now able to access the products and services of the platform, such as buying cryptocurrencies with euro, and trading on the exchange.

The approval came after „months of constructive engagement“ between Binance and the Swedish regulators. Binance’s subsidiary, Binance Nordics AB, obtained registration from the country’s financial watchdogs, allowing the platform to operate in the country within the legal framework. This comes after the exchange already received similar regulatory approval in Italy, France, Spain, Poland, Cyprus and Lithuania.

The news is expected to be welcomed by Swedish consumers and investors, who are now able to access the full suite of services offered by Binance. This includes the buying and trading of cryptocurrencies with euro, access to the exchange’s unique features such as its spot and margin trading facilities, and the ability to take part in Initial Exchange Offerings (IEOs).

The approval of Binance in Sweden also indicates that the country is becoming increasingly open to the cryptocurrency sector. The country has recently taken a number of steps to create a regulatory framework for cryptocurrencies, such as the introduction of the Digital Assets Bill. This bill, which was passed in June 2020, provides detailed guidance on how crypto businesses should operate in Sweden.

The approval of Binance in Sweden is expected to further encourage the growth of the crypto sector in the country, as well as give investors the confidence that their funds are secure when trading on the exchange. With the growing acceptance of cryptocurrencies across the world, it is likely that more countries will follow suit and give their approval to Binance, making it even more accessible to investors.