From 1 July, only MiCA-approved companies may offer crypto services in Sweden, according to Sweden's Financial Supervisory Authority. Only Safello is directly approved, while two companies have been rejected and have appealed.
MiCA is the EU's regulatory framework for crypto services, requiring companies to hold an approved licence (CASP) from a national supervisor to operate across the EU/EEA. The transition period, during which companies could continue operating while applications were processed, ended on 30 June. Since 1 July, the requirement applies in full, and Sweden's Financial Supervisory Authority (FI) has now published an overview of which companies have and have not been licensed in Sweden.
Companies without a licence, or no longer covered by the transitional rules, must not continue offering crypto services to consumers in the EU. Instead, they must wind down operations in an orderly manner, according to FI. Companies that have previously operated without a MiCA licence must now inform their customers how the services are affected, and how they can manage their crypto holdings – for example by moving assets to a licensed company, to their own crypto wallet, or by closing the position.
FI encourages consumers to check for themselves whether a company holds a MiCA licence in Sweden or another EU country, using FI's or Esma's company registers. According to FI, a well-known brand is no guarantee that the business actually has the right to offer crypto services in the EU.
Safello, part of the Safello group, has been approved by FI as a provider of crypto-asset services. In addition, 77 companies have been licensed in other EU countries and can therefore offer services to Swedish consumers through what is known as passporting.
QB Europe, part of the Valuno group, and Ijort Invest, part of the GreenMerc group, applied for a MiCA licence and were rejected. Both companies have appealed the decision and may in the meantime continue parts of their operations pending a court ruling. FI specifies that the information in the release applies as of 30 June 2026, and refers to the company register for updated information on who holds a licence at any given time.
See also Kaupr's story on how GreenMerc is moving its Swedish Trijo customers to Finnish sister company Northcrypto, which already holds a MiCA licence.
Goobit / BTCX is not mentioned in FI's press release, either as approved or rejected. It was only when Kaupr contacted FI's information department on Wednesday afternoon that the real status became clear.
"Their application is still under assessment," the information department at FI writes in an email, in response to a question from Kaupr. Kaupr has covered Goobit / BTCX's wait for a MiCA licence in a separate article.
MiCA imposes requirements on companies that have been licensed, including clearer customer information, complaints procedures, management of conflicts of interest, and protection of client funds. FI nonetheless stresses that a licence is no guarantee against losing money – crypto investments remain highly risky, even when the service is offered by a licensed company.
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Sources: Finansinspektionen
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