header banner
Default

Following a regulatory pause, Binance resumes operations in Belgium


Active Currencies 10752

Market Cap $1,367,174,156,490.10

Bitcoin Share 50.17%

24h Market Cap Change $1.51

Binance Crypto


  • The Belgian regulator ordered Binance to halt its cryptocurrency-related services in the country on 23 June.
  • The exchange clarified that new registrations of Belgian residents were welcome on its platform once again.

Binance [BNB] has resumed its exchange services for users in Belgium after a three-month hiatus. This move comes after the Belgian Financial Services and Markets Authority (FSMA) ordered Binance to cease all cryptocurrency-related services in the country, alleging violations of anti-money laundering and counter-terrorism financing laws.

Binance redirected Belgian users to its Polish-registered arm, Binance Poland sp. z o.o., to continue serving them. The exchange did not disclose the specific changes that enabled the resumption of services.

Binance has been trying to comply with evolving regulatory frameworks on a global scale. This includes the European Union’s upcoming Markets in Crypto-Assets (MiCA) legislation set to take effect in June 2024.

“New registrations of Belgian residents are welcome on our platform once again,” Binance confirmed in a 25 September post on X (Formerly Twitter).

Dear Binancians ??

We are delighted to announce that as of today, new registrations of Belgian residents are welcome on our platform once again.

In addition, various Binance products and services are accessible again to Belgian users who have accepted our new Terms of Use.

— Binance België (@binanceflemish) September 25, 2023

Binance open for Belgians again

VIDEO: Binance: DON'T LOSE ACCESS TO YOUR CRYPTO [step-by-step guide]
ade

The Belgian Financial Services and Markets Authority ordered Binance to halt its cryptocurrency-related services on 23 June.  The regulator alleged that Binance was offering crypto services “from countries that are not members of the European Economic Area.”

Binance then worked on the necessary changes to ensure compliance with Belgian regulations, although specific details of these changes were not disclosed in the recent announcement.

The exchange noted that various Binance products and services would be accessible to Belgian users who have accepted the new Terms of Use.

In Europe, Binance has signaled its intention to delist stablecoins for the European market by June 2024 as part of its preparations for the European Union’s Markets in Crypto-Assets (MiCA) legislation, set to take effect at the same time.

Meanwhile, in the United States, Binance.US, the American arm of Binance, experienced a wave of executive departures. This has led some industry observers to speculate about potential internal challenges within the company.

However, Binance’s CEO, Changpeng ‘CZ’ Zhao, has repeatedly refuted these rumors.

image-1-150x150

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S - There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

Sources


Article information

Author: Ryan Stevens

Last Updated: 1699170603

Views: 1467

Rating: 4.2 / 5 (92 voted)

Reviews: 81% of readers found this page helpful

Author information

Name: Ryan Stevens

Birthday: 1920-01-28

Address: 150 Louis Squares, East Shirley, MD 34061

Phone: +3662502571803194

Job: Dental Hygienist

Hobby: Surfing, Animation, Photography, Wine Tasting, Camping, Aquarium Keeping, Running

Introduction: My name is Ryan Stevens, I am a multicolored, striking, forthright, expert, dear, Colorful, risk-taking person who loves writing and wants to share my knowledge and understanding with you.