Belgium Bans Binance!

- Belgium FSMA bans Binance

- How Binance violated Belgium laws

- FSMA investigation

- FSMA Official Announcement & Warning

- Consequence

Belgium FSMA bans Binance

The Belgian FSMA has ordered Binance to stop offering crypto exchange & custodial wallet services in Belgium.

How Binance violated Belgium laws

In a notice issued on June 23, the FSMA highlighted that Binance's provision of crypto-related services "from jurisdictions outside the European Economic Area" constitutes a violation of Belgian laws related to Anti-Money Laundering and Combating the Financing of Terrorism. As a result, the financial regulator has instructed Binance to immediately cease all relevant services in Belgium.

FSMA investigation

FSMA Official Announcement & Warning

Belgium_FSMA (BINANCE)

.pdf

Download PDF • 197KB

Consequence

Binance right now

Will this war against compliance end for Binance? Only time will tell.

Reference

Wright, T. (2023) Belgian financial regulator orders Binance to cease all virtual currency services, Cointelegraph. Available at: https://cointelegraph.com/news/belgian-financial-regulator-orders-binance-cease-virtual-currency-services (Accessed: 24 June 2023).

FSMA orders Binance to cease immediately all offers of virtual currency services in Belgium (no date) FSMA. Available at: https://www.fsma.be/en/news/fsma-orders-binance-cease-immediately-all-offers-virtual-currency-services-belgium (Accessed: 24 June 2023).