Goobit AB is appealing Finansinspektionen's rejection of its MiCA application. The company says FI didn't assess them closely enough as an individual business, and first asks FI itself to reverse the decision and grant approval.
Goobit AB, the regulated subsidiary of listed Goobit Group AB (publ) and the company behind the consumer brand BTCX, has filed a formal appeal with Finansinspektionen. The appeal targets the regulator's decision on July 2, 2026, to reject the company's application for authorisation as a crypto-asset service provider under MiCA, the EU/EEA's crypto regulatory framework. Goobit has operated under Swedish financial supervision since 2013.
Goobit's primary request is that Finansinspektionen itself reverses the decision and grants authorisation. If the regulator does not change its position, the company's secondary request is that the Administrative Court in Stockholm does so instead. As a third option, Goobit asks the court to annul the decision and refer the case back to Finansinspektionen for a full, renewed review.
The company argues the grounds for rejection fall short on several points. According to Goobit, Finansinspektionen failed to carry out a sufficiently individual and proportionate assessment of the company's business, organisation and overall control environment, and the decision does not, in the company's view, rest on the objective and demonstrable grounds required under MiCA. Goobit also notes that it was given limited time to respond to key issues that were later used as grounds for the rejection, which it frames around the notification obligation under Swedish administrative law.
"As we have already communicated, this is not the development we had hoped for after the extensive work put into our MiCA application. At the same time, we believe the decision does not give a fair picture of Goobit's actual business, overall control environment, or the work that has been built up over many years."
— Christian Ander, CEO of Goobit Group AB
Alongside the appeal process, Goobit says it has, in a short period of time, strengthened and streamlined its independent control functions, including new full-time roles in compliance, MLRO (money laundering reporting officer) and risk management, as well as updated internal governance and compliance routines.
"It feels really good to have a team that can bring a case of this nature to a conclusion in such a short time. It's clear evidence of the competence and commitment that exists within the organisation."
— Christian Ander, CEO of Goobit Group AB
Goobit stresses that the company has operated under Finansinspektionen's supervision since 2013 and has built up significant experience in areas including customer due diligence, transaction monitoring and anti-financial crime work. The company says it respects the regulator's role but disagrees with its assessment on several key points.
"Goobit has operated under Finansinspektionen's supervision since 2013 and has built up significant experience in areas including customer due diligence, transaction monitoring and the fight against financial crime. We respect Finansinspektionen's role, but we do not share the regulator's assessment on several key points. Our view is that the application needs to be reconsidered based on Goobit's actual business and an individual, proportionate assessment."
— Christian Ander, CEO of Goobit Group AB
Finansinspektionen has confirmed in writing that Goobit AB, under the Swedish transitional provisions, may continue to provide the relevant services while the appeal is being reviewed. Goobit says it will keep the market informed of any material developments in the case.
Sources: Goobit press release
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