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Binance Resumes Services in Belgium After Three Months

Binance Resumes Services in Belgium After Three Months

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Crypto exchange Binance announced this week that it would resume its services in Belgium after being told to suspend its services by the Financial Services and Market Authority. 

The world’s leading cryptocurrency exchange, Binance, announced it would restart offering its services in Belgium after the Financial Services and Markets Authority (FSMA) ordered the exchange to halt its services in June. 

Binance Resumes Services After Facing Regulatory Hurdles

In an announcement, Binance explained that various products and services were again accessible to Belgian users who have accepted the exchange’s new terms of service. 

Belgium’s FSMA informed the exchange it was providing exchange and custody wallet services in Belgium for currencies outside the European Economic Area, Blockworks reports. At the time, the exchange announced:  

“The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services in Belgium.” 

The FSMA reported that 19 out of 27 Binance Operators failed to show they were based in the European Economic Area. Following the regulator’s announcement, the exchange migrated its Belgian users to its Polish subsidiary. 

Binance Halts Euro Trading

In an announcement on Friday, Binance informed its Paysafe users to convert their EUR balances into USDT by the end of October after Paysafe withdrew its services. According to the exchange, deposits, buying and selling cryptocurrencies with EUR, and spot trading services were some of the services interrupted by Paysafe’s withdrawal. 

The exchange said it was actively looking for a replacement for Paysafe but has not yet announced such.

 Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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