Binance Attempts A Belgium Comeback Just 3 Months After Watchdog Halted Services

Binance has returned to the Belgian market.

The crypto exchange decided to reopen registrations for Belgium's residents roughly three months after the country's financial watchdog, the Financial Services and Markets Authority (FSMA), directed the platform to halt its virtual currency services.

This development is a testament to the rapidly changing landscape of digital assets and their regulatory frameworks worldwide. Such shifts will be a focal point of discussion at Benzinga's Future of Digital Assets conference on Nov. 14, where industry experts will delve into the evolving dynamics of digital currencies and the challenges they pose in the global regulatory arena.

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Back in June, the FSMA accused Binance of offering specific services from countries outside the European Economic Area (EEA).

According to Belgian regulations, entities based in Belgium — and not part of the EEA — are prohibited from providing exchange services between virtual currencies and legal tenders, as well as from offering custody wallet services. Non-compliance with these directives could lead to criminal sanctions.

Binance, in response to the FSMA's directive, had not contested the regulator's findings. 

With the recent announcement, Binance has also highlighted that various products and services are now available to Belgian users, provided they agree to the platform's updated terms of use.

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