The Belgian Financial Services and Markets Authority (FSMA) has ordered exchange Binance cryptocurrency Major halts all crypto exchanges and custody wallet services in Belgium
In an announcement on June 23, FSMA sayThat Binance offers Crypto-related services “from countries that are not members of the European Economic Area” violates Belgian laws against money laundering and countering the financing of terrorism. The financial regulator said Binance had to cease all related services in Belgium. “with immediate effect”
According to the FSMA, Binance regulates about 19 companies located outside of the European Economic Area — the regulator said it had been regulated. “Requested several times” from Binance, but did not receive a satisfactory answer indicating the services the company provides.
“Despite the information that Binance has provided several times, But it failed to show with proper documentation and evidence that the exchange between virtual and legal currencies and wallet services offered and made available in Belgium were operated through legal entities. of other member countries of the European Economic Area who are duly authorized by their Member States to carry out these activities. Including in Belgium,” FSMA said.
As part of the system’s mandate, Binance must contact all Belgian clients and return all crypto and private key holdings by the company. A spokesperson for Binance said the company was “disappointed” with the FSMA’s decision and that it plans to review the regulator’s announcement.
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