The Financial Services and Markets Authority (FSMA) ordered the cryptocurrency exchange Binance to immediately cease providing services related to digital assets in the country.
«It is prohibited for persons or firms regulated by the law of a country that is not a member of the European Economic Area (EEA) to offer or provide […] exchange services for virtual currencies and legal tender», the regulator said in a statement.
According to the regulator’s press release, the decision to ban Binance’s activities stems from the fact that Binance provides services from countries that are not members of the EEA.
A platform spokesperson told The Block that the company is disappointed by the news:
«We are disappointed that the FSMA has taken such a decision despite our ongoing discussions. We are reviewing the details of their notice and will continue to cooperate with regulators in Belgium and around the world in accordance with our obligations».
On June 5, SEC filed a lawsuit against Binance and its CEO Changpeng Zhao. The regulator brought 13 charges, including allegations of selling unregistered securities.
In the same month Binance announced its exit from the Netherlands and withdrew registration in Cyprus. On 21 June the platform launched a local bitcoin exchange in Kazakhstan.