Binance reopens in Belgium

Binance exchange has reopened registration and access to its products and services to cryptocurrency users in Belgium – three months after being ordered by the Belgian financial regulator to cease services related to cryptocurrency.

Binance confirmed in a September 25 post on X (formerly Twitter). Binance said its various products and services will be accessible again to Belgian users who have accepted the new terms of use.

The post Binance confirms the resumption of operations in Belgium on X (Twitter). Source X
The post Binance confirms the resumption of operations in Belgium on X (Twitter). Source: X

On June 23, the Belgian Financial Services and Markets Authority accused Binance of violating Belgian anti-money laundering and counter-terrorism laws for allegedly providing cryptocurrency-related services from foreign countries. The country is not a member of the European Union.

They asked Binance to cease all related services in Belgium and were asked to contact all customers based in Belgium and return all private keys and cryptocurrencies held by the exchange. .

This challenge led Binance to redirect its services to Belgians through Binance Poland sp. z o.o.—Binance’s Polish-registered subsidiary, registered as a virtual asset service provider in January.

Binance’s statement did not specify what changes had been made to allow it to continue service to Belgian users.

There are reports that Binance has signaled plans to delist stablecoins in the European market by June 2024, as a measure to comply with the European Union’s upcoming Markets in Crypto-Assets (MiCA) law. (EU), scheduled to enter into force in June 2024.

Meanwhile, in the United States, a mass exodus of Binance.US executives has led many industry experts to question whether the company is experiencing some internal problems.

However, Binance CEO Changpeng Zhao has repeatedly denied those rumors.

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Virtual currencies, also known as cryptocurrencies, are an exciting and rapidly-evolving field with many innovative projects and applications. Remember to always do your due diligence and thoroughly research any virtual currency project before investing or participating in it.

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