The Belgian government has ordered Binance to cease its services within the country.
Belgium has ordered Binance to cease its services in the country due to regulatory concerns. Increasing regulatory pressures in the US are affecting the crypto industry worldwide.
Belgium Requests Binance to Stop Its Services in the Country
Belgium has ordered Binance to cease crypto services in the country in line with regulatory concerns. The Federal Services and Markets Authority (FSMA) has issued an order announcing that digital asset offerings in the country should be terminated immediately. In the published document, it is stated that Binance provides crypto services from “non-European Economic Area countries” and it is emphasized that this situation is prohibited.
With this order, Binance is asked to cease its operations in Belgium, specifically to end its offerings in the field of virtual currencies and custody wallet services. If Binance does not comply with this order, it may face criminal penalties.
The report states that Binance did not provide evidence to support crypto offerings in Belgium and did not respond to requests for information. It is stated that Binance operates from a country in the European Economic Area and does not provide evidence that it is authorized to provide such services in Belgium.
