Binance, one of the world's leading cryptocurrency exchanges, has resumed its services for Belgium residents after a brief suspension due to regulatory issues.
Find out how the company navigated regulatory hurdles and what this means for Belgium-based crypto traders.
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Binance Announces Resumption of Services in Belgium
On September 25, 2023, Binance announced the resumption of its services for residents of Belgium, which had been temporarily suspended.
Earlier in June of this year, Binance was ordered to cease its services by the Financial Services and Markets Authority (FSMA) in Belgium.
The regulatory body had pointed out that Binance was "providing cryptocurrency and fiat exchange services as well as custodial wallet services for residents of Belgium from non-EEA (European Economic Area) countries."
Details on Service Resumption Based on Polish VASP Registration
Following the suspension, it was reported that based on registration as a Virtual Asset Service Provider (VASP) in Poland, Binance could now offer cryptocurrency exchange and custody services.
With this new announcement, Binance is resuming new registrations and service provision specifically for Belgium residents.
Compliance and User Agreements for Belgium Residents
Belgium residents can use Binance's services by agreeing to the terms of use of 'Binance Poland,' the company’s Polish division.
The company also noted that re-submission of Know Your Customer (KYC) documentation may be required for regulatory compliance.
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