The crypto exchange Binance establishes itself in Sweden. Applying to be registered as a financial institution with FI.

Binance, one of the world’s largest trading venues for cryptocurrencies, announced today that it plans to establish itself in Sweden officially.

Binance is already today the largest crypto exchange in Sweden in terms of trading volume. The fact that you are now officially establishing yourself in Sweden means that you have applied to be registered as a financial institution with the Swedish Financial Supervisory Authority, FI, Binance writes in a press release. Jonas Axelsson, Sweden manager at Binance, says about this:

“For Binance, compliance is important and we want to get a license or registration where possible. Being registered in Sweden is an important step in our journey towards complete global compliance. Rules that aim to protect individual consumers while encouraging innovation are important for the growth of the crypto and blockchain industry as a whole. “

Binance states that with the application to be registered as a financial institution with the Swedish Financial Supervisory Authority, it will make its platform more accessible to Swedish customers. This should mean, among other things, that it should be possible to offer tailor-made services to Swedish users, for example locally adapted login and payment methods. Later, it is also hoped to be able to integrate with local crypto ecosystems and collaborate with Swedish blockchain companies.

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Hackers have snatched almost SEK 400 million from Binance

The world’s largest cryptocurrency exchange hacked

The world’s largest cryptocurrency exchange, Binance, has announced that someone unauthorized has hacked into them and then come across about 7,000 bitcoins, corresponding to about SEK 391 million. Exactly how the computer intrusion took place is not stated, but in a blog post the company writes that several different methods have been used to gain access to Binance’s so-called “hot wallet”, a cryptocurrency wallet that is online as opposed to so-called “cold wallet” or “cold storage”. Binance CEO Zhao Changpeng writes in a statement: “The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time. We must conduct a thorough security review. The security review will include all parts of our systems and data. ” The theft corresponds to about 2 percent of Binance’s cryptocurrency assets and it is stated that all their customers affected by the theft will be reimbursed.

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