Binance Finds Way to Serve Belgian Users After Cease Order
Cryptocurrency exchange Binance said
it continues to provide services to residents of Belgium through its Polish entity. The announcement comes two months after the crypto trading company was
ordered by the Belgian financial regulator to cease all crypto services in the country.
We are pleased to announce that Binance Poland sp. z o.o. is now the entity that provides Binance services for Belgian residents. By doing this, Binance ensures that it complies with its regulatory obligations and can continue to provide services to Belgian users.
The change comes after in June Belgium’s Financial Services and Markets Authority (FSMA) ordered Binance to
“cease immediately all offers of virtual currency services” in the EU nation, accusing it of providing exchange and custody wallet services from countries that are not members of the European Economic Area (EEA).
The FSMA also demanded from Binance
to return to Belgian clients all cryptographic keys and crypto assets that it holds for their account, or transfer them to entities governed and authorized by the law of an EEA member state in order to continue to carry out the said activities.
To keep trading on Binance, Belgians
will have to accept the Terms of Use of Binance Poland for Belgian users, the company explained.
