Binance exchange resumed work in Belgium – Bits Media

The largest cryptocurrency exchange of Binance resumed trade operations in Belgium three months after the ban on regulatory authorities to the activities of the platform in the country.

Binance management reported, that the trading platform resumed registration for the Belgian users. Now they can use various products and services of the exchange, and also make deposits and withdraw funds, Having accepted new conditions for using the platform.

At the end of June, the Department of Financial Services and Belgian markets (FSMA) Looked the order, According to which Binance was supposed to stop the provision of cryptocurrency exchange services in Belgium. The regulator accuses Binance of the conscious provision of their services to citizens of Belgium, Whereas the company itself is outside the European economic zone (Both). This violates laws against money laundering and financing terrorism, declared fsma.

The situation led to that, that the exchange had to look for a normative loophole for servicing Belgian users. Since Binance is registered in Poland as a provider of virtual assets services (VASP), then to perform the functions of the main service provider for citizens of Belgium became the Polish division of the exchange.

Despite the resumption of operations in Belgium, United States Securities and Exchange Commission (SEC) continues to investigate Binance. Recently, the management of the trading platform demanded the court to reject the SEC claims, accusing the regulator of abuse of powers.