Swedish Monetary Watchdog Investigating Two Native Crypto Exchanges

 Swedish Monetary Watchdog Investigating Two Native Crypto Exchanges



Sweden’s Monetary Supervisory Authority (FI) is investigating two native crypto corporations, Safello and Goobit, in keeping with an announcement on its official web site.

  • FI mentioned on Thursday it desires to understand how native crypto corporations are complying with the European nation’s anti-money laundering (AML) guidelines.
  • To that finish, FI has picked what it calls two “market-leading” firms which have a mixed market capitalization of over 570 million Swedish krona ($67 million).
  • In line with the announcement, crypto corporations act as a bridge between conventional finance and the digital asset sector, which has “a excessive danger of cash laundering.”
  • “Subsequently, FI has initiated investigations into how Safello and Goobit comply with the money-laundering guidelines,” the announcement mentioned.
  • FI reiterated that firms that supply digital forex providers are required to register with the company as monetary establishments to adjust to the Act on Forex Alternate and Different Monetary Actions (LVA)
  • Each Safello and Goobit are listed on Nasdaq’s First North Growth Market, an alternate market of Nasdaq Nordic for small to medium-sized firms.
  • In Might, Safello’s deliberate preliminary public providing (IPO) was oversubscribed by 1,240%.
  • On the time of reporting, Safello shares had been down 6% whereas Goobit was down 9%.

Learn extra: Bitcoin Alternate Safello Raises $1.3M for Deliberate 2021 IPO



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