Belgium’s top markets regulator, the Financial Services and Markets Authority (FSMA), has issued a notice instructing cryptocurrency exchange Binance to immediately stop serving customers in the country.
The FSMA alleges that Binance is offering exchange services and custody wallet services in Belgium for virtual currencies and legal currencies from non-European Economic Area countries, which violates a prohibition set by the regulator.
According to the notice released on Friday, the FSMA has ordered Binance to cease all such services in Belgium with immediate effect.
This move adds to the growing regulatory challenges faced by Binance, including ongoing allegations from the U.S. Securities and Exchange Commission (SEC) regarding securities law violations and an ongoing investigation by French authorities.
In response to regulatory issues, Binance has recently withdrawn its services from various European Economic Area markets, including the Netherlands and Cyprus.
The exchange’s operations are under scrutiny as it navigates the complex and evolving landscape of cryptocurrency regulations worldwide.
