Swedish financial services company Goobit Group has strengthened its anti-money laundering, compliance and risk management functions after its subsidiary’s application for authorisation under the European Union’s Markets in Crypto-Assets Regulation was rejected.
Goobit said its subsidiary, Goobit AB, has established three separate full-time control positions: Chief Compliance Officer, Money Laundering Reporting Officer and Risk Manager. The appointments are intended to improve the independence and effectiveness of the company’s internal control framework.
The organisational changes follow a decision by Sweden’s Financial Supervisory Authority, Finansinspektionen, to reject Goobit AB’s application for authorisation under MiCA. The company is now preparing a formal response addressing the issues identified by the regulator.
As part of the process, Goobit plans to submit additional explanations and supporting documents. It will also provide details of the organisational improvements and other corrective measures introduced following the regulatory assessment.
The company said the investment reflects its continuing focus on governance, regulatory compliance and risk management. Strengthening independent control functions is particularly important for cryptocurrency businesses, which face heightened scrutiny relating to money laundering, terrorist financing and customer due diligence.
Goobit CEO Christian Ander said the company had taken the regulator’s observations seriously and increased its full-time resources across AML, compliance and risk. The measures are intended to strengthen the company’s lines of defence and overall regulatory controls.
Goobit Group operates BTCX, a Sweden-based bitcoin exchange launched in 2011. The company offers services that allow customers to exchange traditional currencies for bitcoin and operates from its headquarters in Stockholm.
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