Belgian Financial Services and Markets Authority (FSMA), “Immediately effective” cessation of Binance operations in the Central European country.
“FSMA states that Binance is bidding and delivering in Belgium. currency exchange services between virtual and legal currenciesas well as electronic wallets from non-member countries European Economic Area“Therefore, the FSMA has ordered Binance to cease offering and providing any of these services in Belgium with immediate effect,” the financial regulator added.
The organization announced Natural and legal persons subject to legislation outside the European Economic Area are prohibited from providing these services as a professional activity in Belgium, “even if in a secondary or auxiliary way”. The FSMA explains that violating the agreed ban would constitute a criminal offense punishable by section 136 of the Belgian Law on the Prevention of Money Laundering and Terrorist Financing.