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.
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.
Don't know who does your research, but it is most certainly wrong. As a bitcoin exchange in sweden your business falls in to the foreign exchange company category (valutahandelsföretag) and is demanded by law to submit to FI and register as such.
So the reason for you not submitting to FI can't be as stated above, but must have to do with you being a foreign company.
Either that or you do not have legal support for your operation.
Löjligt att jag skriver detta på engelska... men med de svenskakunskaperna de verkar besitta så känns allt annat lönlöst.
"-Vad gäller registrering hos finansinspektionen så har vi varit i kontakt med dem och min kontakt person har efter en undersökning gjort bedömningen att FYB-SE inte har någon anledning att registrar sig. Argumentet från deras sida är att FYB är ett Singaporianskt registrerat företag och därför inte behöver denna tillämpning.
Vi bad om att volentär registrera oss men fick svaret att det inte fans någon anledning."
som ovan, antingen det ena, eller det andra
