Binance ordered to stop offering crypto services in Belgium.
Belgium’s primary markets regulator has instructed the troubled cryptocurrency exchange Binance to stop serving local clients immediately, according to a notice on Friday.
The Financial Services and Markets Authority (FSMA) stated that 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 claims 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 currently facing regulatory scrutiny as it fights allegations by the U.S. SEC that it violated securities laws and was recently revealed to be under investigation by French authorities. The exchange has also withdrawn from markets in the European Economic Area, such as the Netherlands and Cyprus, due to regulatory concerns.
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