Belgium Introduces Registration for Crypto Exchange and Wallet Service Providers
Authorities in Belgium have obliged providers of some crypto exchange and wallet services to register with the country’s financial watchdog. Targeted platforms that fail to comply with the new regulations will face fines, among other penalties, including prohibition to carry out their respective activities. Financial Regulator Imposes Mandatory Registration for Crypto Exchange Service Providers in Belgium Starting from May 1, 2022, any legal entities established and operating in Belgium that want to provide exchange services between “virtual currencies and legal....
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Crypto service providers must fulfill seven conditions that include being constituted in the form of a company with a minimum capital of roughly $52,725 (EUR 50,000). A new rule imposed by Belgium’s financial regulatory agency, the Financial Services and Markets Authority (FSMA), will now require crypto exchanges and custodial wallet services in the region to register within a sharp deadline.Starting tomorrow, May 1, legal individuals and entities that wish to provide crypto exchange services or custodial wallets in Belgium will have to register in advance, according to the information....
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Dutch bitcoin exchange Bitplaats has announced the expansion of its service into neighbouring country Belgium. Belgian users can now trade digital currency from Bitplaats using the country's dominant online payments platform, Bancontact/Mister Cash. Bitplaats (which translates as 'bit place' in Dutch) claims transactions on its platform will be completed instantly as it uses the Bancontact/Mister Cash payment method, which offers transactions in real-time. Bancontact/Mister Cash is widely used for transactions in the country. Lennert Vlemmings, a Bitplaats co-founder, said: "We received....