Binance Receives Authorization from the Swedish Financial Supervisory Authority
In addition to working on obtaining regulatory approval, Binance has continued to build out its employee base.
Binance, a crypto currency trading platform, has recently obtained (1) regulatory permission from the Swedish Financial Supervisory Authority (Swedish FSA), which paves the way for the company to provide its services to the people of Sweden.
Binance Gets Approval
After many months of discussion with the relevant authorities, Binance Nordics was finally granted regulatory approval. Binance Nordics are the local branch of Binance.
Consequently, clients based in Sweden will have access to Binance's services, which include trading crypto currencies, staking, and various Web3 services.
Roy van Krimpen, responsible for the Nordics and Benelux regions, claimed that the risk and AML procedures of Binance Nordics AB meet the requirements of the EU standard. They said:
"Sweden fully adopts EU laws and has further local requirements, so we have been careful to ensure that Binance Nordics AB has adopted risk and AML policies to match this exacting standard. Our next big task will be the successful migration and launch of local operations, including hiring of local talent, organizing more events and delivering more crypto education in Sweden"
Seventh License in European Belt
Following the acquisition of the Swedish license, the total number of European licenses that Binance has secured is now seven. Previously, the exchange has been granted permission to operate in Cyprus, France, Italy, Lithuania, Poland, and Spain. Additionally, it has been granted regulatory approval in 14 other countries and regions worldwide.
Since it suffered regulatory setbacks in Japan, Hong Kong, Ontario, and the United Kingdom in 2021, Binance has consistently obtained regulatory permissions in several other markets. The CEO of Binance, Changpeng Zhao, has referenced the exchange's dedication to rules.
According to Richard Teng, who oversees European Operations, the company is still dedicated to maintaining the highest possible service standards and cooperating with local regulatory organizations. As conclusion, he stated that "our registration in Sweden is the result of many months of diligent and hard work from our team," and that this demonstrates "our commitment to the Swedish market and our users."
The crypto currency exchange became a Chamber of Digital Commerce member in December as part of ongoing efforts to encourage the sustainable development of reasonable rules for blockchain technology and crypto currencies. In recent news, cryptoc urrency exchange Binance made history by becoming the first organization to join the Association of Certified Sanctions Specialists (ACSS). Binance's participation, as stated by the Executive Director of ACSS, Saskia Rietbroek, will help enhance compliance in the crypto currency industry.
Binance Hiring Aggressively
In addition to working on obtaining regulatory approval, Binance has continued to build out its employee base. CZ said the exchange's employment increased from 3,000 to approximately 8,000 in 2022, while many other crypto companies were forced to lay off personnel to remain profitable.
In addition, CZ mentioned that the exchange is preparing to boost its workforce by up to thirty percent. As this article is being written, the Binance Career page lists (2) 683 available opportunities.