Cryptocurrency exchange Binance has re-opened registration and access to its services for users in Belgium after a three-month hiatus. This move follows Belgium's financial regulator ordering Binance to cease all cryptocurrency-related services in the country due to alleged violations of anti-money laundering and counter-terrorism financing laws. Binance was accused of providing crypto services "from non-EEA member states."
Binance has now welcomed new registrations from Belgian residents who agree to its updated terms of use. These users can once again access the exchange's range of products and services.
To navigate the regulatory situation, Binance had previously moved its services for Belgian users to Binance Poland, specifically Binance Poland z oo, a registered branch that operates as a virtual asset service provider. The exchange made this move to comply with local regulations.
Binance has not disclosed specific details about the changes that allowed it to resume operations in Belgium. Both Binance and the Belgian Financial Services and Markets Authority (FSMA) have not provided further comments regarding this development.
In Europe, Binance has announced its intention to delist stablecoins from European markets by June 2024 in order to comply with the forthcoming EU Markets in Crypto-Assets (MiCA) legislation, set to take effect in June 2024. Meanwhile, in the United States, the departure of several Binance. US executives has sparked speculation about potential internal issues, which CEO Changpeng Zhao has repeatedly denied.
