Binance management announced that the trading platform has resumed registration for Belgian users. They can now use various products and services of the exchange, as well as make deposits and withdraw funds, by accepting the new Terms of Use of the platform.
At the end of June, the Belgian Financial Services and Markets Authority (FSMA) issued an order requiring Binance to cease providing cryptocurrency exchange services in Belgium. The regulator accuses Binance of knowingly providing its services to Belgian citizens, while the company itself is located outside the European Economic Area (EEA). This breaches laws against money laundering and terrorist financing, the FSMA said.
The situation led to the exchange having to find a regulatory loophole to serve Belgian users. Since Binance is registered in Poland as a virtual asset service provider (VASP), the Polish division of the exchange became the main service provider for Belgian citizens.
Despite the resumption of operations in Belgium, the US Securities and Exchange Commission (SEC) continues to investigate Binance. Recently, management of the trading platform demanded the court to reject the SEC’s claims, accusing the regulator of exceeding its powers.
Source: Bits
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