Binance Troubles Deepen: Belgium Demands Immediate Termination Of Local Opperations
Portfolio Pulse from Jose Rodrigo Safdiye
The Financial Services and Markets Authority (FSMA) of Belgium has ordered Binance to immediately terminate its virtual currency services in the country, following allegations of violating financial regulations. Binance has been providing exchange and custody wallet services from countries outside the European Economic Area (EEA), which is forbidden under Belgian law.
June 23, 2023 | 6:30 pm
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Binance's troubles deepen as Belgium's FSMA orders the immediate termination of its virtual currency services in the country, potentially impacting BNBUSD.
The FSMA's order for Binance to immediately terminate its virtual currency services in Belgium due to alleged financial regulation violations could negatively impact BNBUSD in the short term. This regulatory action adds to Binance's ongoing troubles and may lead to further scrutiny or restrictions in other jurisdictions.
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