Summary:
Crypto exchange giant Binance is using its Poland unit to continue serving its customers in Belgium. Belgian users must accept Binance Poland’s Terms of Use and resubmit know-your-customer documentation as a part of Polish regulatory requirements to keep using the Binance platform. In June, the Financial Services and Markets Authority of Belgium ordered Binance to halt virtual currency services in the country. Binance said it was working with the FSMA after receiving the order from the Belgian regulator.
Key Points:
– Binance is using its Poland unit to serve its customers in Belgium.
– Belgian users have to comply with Polish regulatory requirements to continue using the Binance platform.
– In June, the Financial Services and Markets Authority of Belgium ordered Binance to halt virtual currency services in the country.
– Binance is working with the FSMA to address the order from the Belgian regulator.
Hot Take:
Binance is taking steps to ensure compliance with regulatory obligations in order to continue providing services to its Belgian users. By utilizing its Poland unit and requiring users to meet Polish regulatory requirements, Binance aims to maintain its presence in Belgium. The company’s ongoing collaboration with regulators demonstrates its commitment to compliance and willingness to work towards a resolution.
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