After a three-month hiatus, Binance, the world’s foremost cryptocurrency exchange, is once again offering its services to the eager Belgian market. This decision comes in the wake of a directive from the Financial Services and Markets Authority (FSMA) in June, which compelled the exchange to suspend its services in the region.
Binance has now made an official announcement, stating that various products and services are now accessible to Belgian users who have agreed to the platform’s updated terms of service. The crux of the FSMA’s concern was Binance’s provision of exchange and custody wallet services in Belgium for currencies originating from outside the European Economic Area.
In response to the FSMA’s directive, Binance promptly migrated its Belgian users to its Polish subsidiary, ensuring that their access to cryptocurrency services remained uninterrupted during the suspension period.
Furthermore, Binance recently faced another challenge when Paysafe withdrew its services. Consequently, the exchange has advised its Paysafe users to convert their EUR balances into USDT by the end of October. This withdrawal by Paysafe disrupted services like deposits, EUR-based cryptocurrency transactions, and spot trading. While Binance is actively searching for a suitable Paysafe replacement, no announcement has been made yet.
Belgium’s crypto enthusiasts can now once again engage with Binance’s extensive suite of services, bringing renewed excitement to the cryptocurrency landscape in the region.
