Binance Belgium Ordered To Stop Services Immediately

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

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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.

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.”

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

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