Cryptocurrency News

Crypto exchange Binance reopens exchange services in Belgium



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Crypto exchange Binance has reopened registrations and access to its products and services for its Belgian crypto users again —  three months after the exchange was ordered by Belgium’s finance regulator to cease cryptocurrency-related services.

“New registrations of Belgian residents are welcome on our platform once again,” Binance confirmed in a Sept. 25 post on X (formerly Twitter). Binance said various Binance products and services will become accessible again to Belgian users who have accepted the new Terms of Use.

On June 23, the Belgian Financial Services and Markets Authority accused Binance of violating Belgium’s anti-money laundering and counter-terrorism financing laws for allegedly offering crypto-related services “from countries that are not members of the European Economic Area.”

It ordered Binance to cease all related services in Belgium “with immediate effect,” and was required to contact all its Belgium-based clients and return all crypto and private keys the exchange held.

The ordeal led Binance to divert its services for Belgians through Binance Poland sp. z o.o. — Binance’s Polish-registered arm, which it had registered as a virtual asset service provider in January.

Binance’s statement did not discuss what changes were made to allow it to resume services for Belgian users. Cointelegraph has reached out to Binance and Belgium’s FSMA for comment.

Related: Binance CEO refutes report on $250M loan to BAM Management

Elsewhere in Europe, Binance has signaled plans to delist stablecoins for the European market by June 2024 as a means to comply with the European Union’s incoming Markets in Crypto-Assets (MiCA) legislation, which is set to come into effect in June 2024.

Meanwhile, in the United States, a mass exodus of Binance.US executives has prompted some industry pundits to ponder whether the firm is experiencing some internal issues.

However the firm’s CEO, Changpeng ‘CZ’ Zhao has refuted those rumors on several occasions.

Magazine: Binance’s exec exodus, Nasdaq to trade AI orders and SBF loses bail appeal: Hodler’s Digest, Sept. 3–9