Belgium Introduces Registration for Crypto Exchange and Wallet Service Providers – Regulation Bitcoin News

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 currencies” are required to register with the Financial Services and Markets Authority (FSMA), the country’s financial regulator. The same applies to companies offering custody wallet services, the agency announced.

Cryptocurrency platforms falling under these two categories, which had been working in Belgium before the specified date, should notify the FSMA of their activities before July 1, 2022 and apply for registration prior to a Sept. 1 deadline, the watchdog said. They will be granted “provisional authorization” allowing them to continue operations until the FSMA reviews their registration…

Read more at news.bitcoin.com

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