Global regulators have undoubtedly become more interested in cryptocurrencies as their popularity has risen. Global cryptocurrency exchanges are securing operating permits from regulatory bodies in a number of nations. Today, forward-thinking nations are providing these exchanges regulatory licenses to operate within their borders.

Binance, one of the largest cryptocurrency exchanges, has an established presence across the globe. According to the details of a press release, the global cryptocurrency exchange has been granted regulatory approval by the Swedish Financial Supervisory Authority (FSA).

Binance can now operate and also provide its services in Sweden. It is now registered as a financial institution under the FSA. Swedish residents can now get access to Binance’s various services, including trading, staking, deposits, and withdrawals. Additionally, users can access the Binance Visa card.

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.”

Roy van Krimpen, Nordics and Benelux Lead added, “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.”

The crypto exchange disclosed that the processes involved in obtaining the regulatory approval had been on for months, as it had been in constant talks with the Swedish FSA.

As a result of this regulatory permission, Sweden is the eighth member state of the European Union to grant authorization to the international cryptocurrency exchange. The exchange is also registered in France, Italy, Lithuania, Spain, Cyprus, and Poland.