24/7 Cryptocurrency News

Breaking: Binance Belgium Ordered To Stop Services Immediately

Belgium's Financial Services and Markets Authority (FSMA) ordered Binance about violations on European Economic Area regulation.
Published by
Breaking: Binance Belgium Ordered To Stop Services Immediately

Crypto Market News: Amid top crypto exchange Binance’s lawsuit against the US Securities and Exchanges Commission (SEC), Belgium’s financial regulator on Friday order the exchange to cease certain operations. The country’s Financial Services and Markets Authority (FSMA) to immediately cease exchange services and custody wallet services in Belgium between virtual currencies and legal currencies. The order pertains to restrictions around European Economic Area regulations, the authorities said. Binance does not offer such services in Belgium, but it is the Belgian clients of Binance.com that are in violation, the FSMA said.

Also Read: US SEC Gives Nod To First Ever Leveraged Bitcoin ETF

The order from the authorities came at a time when US based exchanges like Coinbase and Gemini are increasingly making efforts to expand to other countries, especially in Europe and Asia. However, regulatory concerns in the United States are likely to remain at least until the U.S. Presidential Election 2024.

Advertisement

Orders To Binance Belgium

According to a statement by the FSMA, the violation occurs from services provided in Belgium from countries that are not members of the European Economic Area. The statement said,

“The FSMA has decided to order Binance to cease, with immediate effect, offering or providing any exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services.”

Meanwhile, Justin Slaughter, policy director at Paradigm, warned about the full decision on approval by the SEC:

Also Read: Coinbase Wins In US Supreme Court Consumer Lawsuit Ruling

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges

U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will…

October 1, 2025
  • 24/7 Cryptocurrency News

Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility

Asset manager Hashdex has officially included Cardano in its Nasdaq Crypto Index U.S. ETF. This…

October 1, 2025
  • Bitcoin News

U.S. Treasury To Ease Tax Rule on Unrealized Bitcoin Gains, Aiding Saylor’s Strategy

The U.S. Treasury and IRS have released an interim guidance, which highlights plans to ease…

October 1, 2025
  • 24/7 Cryptocurrency News

Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin

Trump Family's World Liberty Financial has unveiled big real-world asset (RWA) tokenization plans on Wednesday,…

October 1, 2025
  • 24/7 Cryptocurrency News

Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms

Fintech giant Stripe has unveiled a suite of tools to enable businesses to tap into…

October 1, 2025
  • 24/7 Cryptocurrency News

Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder

Metaplanet has expanded its Bitcoin portfolio with another purchase. The Tokyo-listed firm is now the…

October 1, 2025