Safello, Sweden's largest cryptocurrency exchange, has submitted an application for authorization as a service provider for crypto assets under MiCA. The application has been submitted to the Swedish Financial Supervisory Authority and is now for review by the authorities.
With a MICA license, Safello can more easily realize its ambitions to expanding outside of Sweden. In a LinkedIn post, Chairman Frank Schuil commends the work put into the application internally at Safello, under the leadership of Legal Director Helén Landenberg Rämsell (see photo).
MiCA is the European Union's Markets in Crypto-Assets Regulation (“MiCA”), and is now being phased in across all Nordic countries. Once a company has obtained a crypto license in an EU/EEA country, the company, by transporting the license to other countries, can offer crypto services in a market of up to 450 million people.
“We are pleased to be able to submit our application as a service provider for crypto assets under the MICA regulation. This new EU regulation applies directly in all member states and sets high standards for actors operating in Europe. It provides us with clear guidelines and strengthens our competitiveness in a market with increasingly stringent regulatory requirements,” says Helén Landenberg Rämsell, Legal Director at Safello.
MiCA, which entered into full force in December 2024, aims to establish a harmonized regulatory framework for services related to crypto assets across the EU. The regulation is designed to strengthen consumer and investor protection, improve market integrity and ensure financial stability. Supervised actors must meet comprehensive requirements in areas such as customer protection, risk management, management of clients' crypto assets and corporate governance.
According to the Swedish Financial Supervisory Authority, MiCA came into force on December 30 last year, but in Sweden a transitional arrangement has been established until September 30, 2025. Until then, the approximately 10 companies that already have a crypto license in Sweden, based on existing legislation, can still operate their business until a MICA application is submitted and processed. But there is a clear exception to this: if the company is aware that one is trading cryptocurrencies that do not meet the requirements of MiCA, this trade should cease immediately.
According to a press release from Safello, the Swedish Financial Supervisory Authority has stated that the general processing time for such applications is expected to be 4—5 months. Safello will inform the market as soon as the Authority has made a final decision on the application.
Below you can also watch a video interview with Safello's CEO Emelie Moritz from earlier this year. On this landing page you can also find more articles about Safello that Kaupr has published.
Safello, Sweden's largest cryptocurrency exchange, has submitted an application for authorization as a service provider for crypto assets under MiCA. The application has been submitted to the Swedish Financial Supervisory Authority and is now for review by the authorities.
With a MICA license, Safello can more easily realize its ambitions to expanding outside of Sweden. In a LinkedIn post, Chairman Frank Schuil commends the work put into the application internally at Safello, under the leadership of Legal Director Helén Landenberg Rämsell (see photo).
MiCA is the European Union's Markets in Crypto-Assets Regulation (“MiCA”), and is now being phased in across all Nordic countries. Once a company has obtained a crypto license in an EU/EEA country, the company, by transporting the license to other countries, can offer crypto services in a market of up to 450 million people.
“We are pleased to be able to submit our application as a service provider for crypto assets under the MICA regulation. This new EU regulation applies directly in all member states and sets high standards for actors operating in Europe. It provides us with clear guidelines and strengthens our competitiveness in a market with increasingly stringent regulatory requirements,” says Helén Landenberg Rämsell, Legal Director at Safello.
MiCA, which entered into full force in December 2024, aims to establish a harmonized regulatory framework for services related to crypto assets across the EU. The regulation is designed to strengthen consumer and investor protection, improve market integrity and ensure financial stability. Supervised actors must meet comprehensive requirements in areas such as customer protection, risk management, management of clients' crypto assets and corporate governance.
According to the Swedish Financial Supervisory Authority, MiCA came into force on December 30 last year, but in Sweden a transitional arrangement has been established until September 30, 2025. Until then, the approximately 10 companies that already have a crypto license in Sweden, based on existing legislation, can still operate their business until a MICA application is submitted and processed. But there is a clear exception to this: if the company is aware that one is trading cryptocurrencies that do not meet the requirements of MiCA, this trade should cease immediately.
According to a press release from Safello, the Swedish Financial Supervisory Authority has stated that the general processing time for such applications is expected to be 4—5 months. Safello will inform the market as soon as the Authority has made a final decision on the application.
Below you can also watch a video interview with Safello's CEO Emelie Moritz from earlier this year. On this landing page you can also find more articles about Safello that Kaupr has published.
