Apologies if I misinterpret anything, unfortunately I have to rely on google translate atm.

As has been clarified through excessive research and thorough investigation and communication, the Swedish official opinion is very similar to the UK position.

I know the article (coindesk: referenced above) doesn't reference FSA in the UK, but let me assure you that thorough communication has occurred. In that you do not need to register with the FSA (or FCA as they call themselves nowadays) as a Bitcoin Exchange. Though suspect activity would be investigated (as is normal).

This will probably change at some time in the future, and FYB will of course register as required by each local government when policies require it.

Each FYB exchange is responsible for making SURE 110% that it has fulfilled all its legal obligations, you can rest assured that FYB is doing its due diligence with regards to the legal and regulatory requirements in each country its expanding into.


~Joel

p.s. the '1st' Swedish exchange (as posted on reddit) was my fault, I did not realise about the other exchange that already exists within Sweden, apologies for that.

edit: The conditions that we suggest you (as a customer) to read is the FAQ.

https://www.fybse.se/faq

Similarly found on the SG site (https://www.fybsg.com/faq).

So that you (as a customer) understand exactly how the exchange works, obviously feel free to read it if you're waiting for an exchange in your own country as FYB operates under a similar policy in all countries it will expand to.