Belgium’s Financial Services and Markets Authority (FSMA) has ordered cryptocurrency exchange Binance to cease all virtual currency services in the country. The regulator stated that Binance is violating regulations by offering services in Belgium from countries outside the European Economic Area. Failure to comply with the order could result in criminal sanctions. The FSMA has also demanded that Binance return all cryptographic keys and virtual currencies to Belgian clients or transfer them to entities authorized by an EEA member state. The regulator explained that, currently, providing exchange services and custody wallet services for virtual currencies is unregulated except for anti-money laundering and terrorist financing measures. However, new rules under the Markets in Crypto-Assets (MiCA) regulation will come into force in Belgium in January 2025. Binance is facing regulatory scrutiny in other countries, including the US, the UK, the Netherlands, and France.
Continue reading on Bitcoin.com
By
By
By
By
By
By