Belgium’s top markets regulator is ordering embattled crypto exchange Binance to immediately cease serving local customers, according to a Friday notice.
The Financial Services and Markets Authority (FSMA) said Binance is “offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area,” which the regulator says is in violation of a prohibition.
“The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services in Belgium,” the notice said.
Binance is in the regulatory hot seat as it battles U.S. SEC allegations it violated securities laws and was recently revealed to be the subject of an investigation by French authorities. The exchange has also pulled out of European Economic Area markets like the Netherlands and Cyprus over regulatory issues.
