Binance Resumes Registration for Belgian Users After 2 Months Suspension
Binance, the major cryptocurrency exchange, has announced the resumption of user registration and access in Belgium. This comes after the Financial Services and Markets Authority (FSMA) ordered the suspension of Binance's services in June.
The FSMA stated that Binance was providing exchange and custody wallet services in Belgium from non-European Economic Area countries, which violated regulatory prohibitions.
The FSMA ordered Binance to halt its crypto exchange and custody wallet services in Belgium, citing violations of Anti-Money Laundering and Combating the Financing of Terrorism requirements. It suggested that Binance could continue operations in Belgium through a legal entity governed by the law of another EEA member state, which includes Poland.
On September 25, Binance, the world's largest cryptocurrency exchange in terms of trading volume, announced the reopening of new customer registrations and access to its products and services in Belgium.
Binance expressed its satisfaction in welcoming new registrations from Belgian residents and reinstating various Binance offerings for users who have accepted the platform's updated Terms of Use.
This development follows Binance's establishment of a Polish entity in late August, specifically designed to serve clients in Belgium while complying with regulatory requirements
Following the order from the Belgian FSMA to cease certain services in Belgium, on August 28, Binance announced that its entity in Poland registered as Binance Poland sp. z o.o., will be providing services to residents of Belgium.
This move complies with "regulatory obligations." Some users seeking services on the exchange were required to submit documentation in line with Poland's Know Your Customer
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