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Binance secures seventh EU regulatory approval from Sweden

 

By Nerly Shammah Jan 11, 2023

 

 

Binance, the largest global centralized cryptocurrency exchange in terms of users and trading value, has recently earned yet another regulatory approval within the EU from Sweden. This approval marks the seventh EU acknowledgement of the cryptocurrency exchange to operate within the nation, facilitating crypto purchases or trades and a wide range of web3 services. 

 

As per a blog announcement, Binance was granted registration by the Swedish Financial Supervisory Authority on January 10, 2023, the seventh within the EU members state and the fifteen jurisdictions globally. 

 

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Richard Teng, Head of Europe and MENA at Binance, commented: Binance continues to demonstrate its commitment to work closely with regulatory agencies to uphold global standards. Our registration in Sweden is the result of many months of diligent, hard work from our team, underpinning our commitment to the Swedish market and our users. 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.

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This comes in as Sweden joins France, Italy, Lithuania, Spain, Cyprus and Poland as the EU states to authorize facilitating Crypto buy/sell with EUR, spot trading, margin trading, staking through Binance Earn, Binance Pay, Binance Pool, NFT marketplace, fan tokens, Binance Visa Card, crypto convert function, Launchpad, Launchpool, Savings, BNB Vault, auto-invest and Custody as formally noted here. 

 

Binance Pushes For Mass Crypto Adoption

 

Binance, outside being a cryptocurrency exchange has made several moves to expand the userbase of the cryptocurrency ecosystem. A notable example spans its not-distant partnership with several state organizations of Kazakhstan to launch a blockchain education program which is also a Binance-licensed environment. 

 

With the goal to deliver blockchain education to 40,000 people by 2026, Binance joined forces with the Research Lab’s Blockchain Center, created by the Center for the Development of Payment and Financial Technologies of the National Bank of the Republic of Kazakhstan and Astana Hub; the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, and Kazakhstan’s Ministry of Education as per reports. 
 

Similarly, Binance's innovative environment has been about user security and experience in which all Binance structures impose. The partnership with Pyypl was devised to bring a more secure online transaction experience to Binance users.

 

At the time of writing, Binance prides itself as the most solvent cryptocurrency exchange with the largest trading volume and users.