The Swedish Financial Supervisory Authority (Finansinspektionen) confirms to Kaupr that Goobit/BTCX was denied MiCA approval due to deficient internal control and weaknesses in its risk assessment against money laundering and terrorist financing, despite the company being given the opportunity to respond.
As Kaupr has previously reported, Kaupr sent a series of questions to Finansinspektionen on Friday morning regarding the regulator's handling of Goobit/BTCX's MiCA application. The first responses arrived on Friday afternoon, but they provided few real clarifications.
When asked why a decision had not been reached by the June 30 deadline, Finansinspektionen responded to Kaupr that the circumstances of the case had caused the processing time to be extended. When asked why Goobit/BTCX was not mentioned in the regulator's announcement on July 1, which addressed other individual decisions, FI responded that the case was still under review. Regarding why no official confirmation of the rejection had been issued, FI stated that the authority does not normally issue press releases for individual decisions, but that the decision has been dispatched and is therefore a public document.
When asked directly about the grounds for the rejection, FI only replied on Friday that Goobit "does not meet all the requirements" of the MiCA regulation, and that the company had the option to appeal—without going into detail about what specifically formed the basis of that assessment.
Kaupr followed up on Saturday with a specific question regarding what actually formed the basis for the rejection, after the Swedish website Kryptovalutaguiden reported a more detailed justification from Finansinspektionen.
On Monday, Finansinspektionen confirmed to Kaupr that Goobit/BTCX received the MiCA rejection because "the company has not demonstrated that it has sufficient resources for its internal control."
FI further confirmed: "FI also assesses that the company's risk assessment for money laundering and terrorist financing has deficiencies. Therefore, it cannot be used as a basis for the company's routines and measures in this area. Goobit has been given the opportunity to respond to FI's assessment and submit supplements, but the deficiencies remain. The overall assessment is therefore that Goobit does not meet all the requirements of the MiCA regulation. The company has the option to appeal the decision."
Sources: Finansinspektionen, Kaupr, Kryptovalutaguiden
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