Binance is under more pressure after receiving a directive from Belgium's FSMA regulator on Friday to stop providing any virtual currency services there.
Changpeng Zhao started Binance in Shanghai in 2017, and it has since come to dominate the cryptocurrency market. However, regulators looking to crack down on money-laundering are keeping a close eye on Binance.
It has continuously defended its commercial operations.
"Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area," the FSMA said.
"The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services in Belgium," it added in a statement.
Early this month, Binance and Binance.US reached a deal with the U.S. Securities and Exchange Commission to guarantee that U.S. customer funds stay in the country up until the conclusion of a broad lawsuit the SEC launched this month.
France is also looking into Binance, which has chosen to leave the Dutch market after failing to register to work as a provider of virtual asset services.
(Source:www.coindesk.com)
Changpeng Zhao started Binance in Shanghai in 2017, and it has since come to dominate the cryptocurrency market. However, regulators looking to crack down on money-laundering are keeping a close eye on Binance.
It has continuously defended its commercial operations.
"Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area," the FSMA said.
"The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services in Belgium," it added in a statement.
Early this month, Binance and Binance.US reached a deal with the U.S. Securities and Exchange Commission to guarantee that U.S. customer funds stay in the country up until the conclusion of a broad lawsuit the SEC launched this month.
France is also looking into Binance, which has chosen to leave the Dutch market after failing to register to work as a provider of virtual asset services.
(Source:www.coindesk.com)
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