Cryptocurrency exchange Binance has reopened registrations and access to products and services in Belgium three months after the country’s financial regulator ordered it to cease offering services locally.
“[N]ew registrations of Belgian residents are welcome on our platform once again. In addition, various Binance products and services are accessible again to Belgian users who have accepted our new Terms of Use,” Binance said in a Sept. 25 post on social media platform X (formerly Twitter).
On June 23, Belgium’s Financial Services and Markets Authority (FSMA) ordered the crypto exchange to stop offering virtual currency services to local clients. It accused Binance of violating the country’s anti-money laundering and terrorist financing laws for offering crypto-related services “from countries that are not members of the European Economic Area.”
The regulator ordered Binance to “take immediate measures,” including contacting Belgium-based clients and returning their cryptocurrency and private keys the exchange held.
The ordeal prompted Binance to divert its services for Belgian users to Binance Poland last month. The exchange’s Polish-registered arm had registered as a virtual asset provider in January.
Binance’s announcement did not disclose how it was able to secure permission to resume services in Belgium.
In other news, Marina Parthuisot, head of legal at Binance, said in a public hearing with the European Banking Authority that it plans to delist stablecoins for the European market by June 30, 2024. The proposed move was to comply with the European Union’s incoming Markets in Crypto-Assets (MiCA) regulation, which is set to take effect in June next year.