💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Belgium Regulates Crypto Services: Compliace With New Rules Required Before September

Published 30/04/2022, 14:00
© Reuters.  Belgium Regulates Crypto Services: Compliace With New Rules Required Before September
CRCW
-

Belgian financial regulator Financial Services and Markets Authority (FSMA) set new requirements for companies the provide services for the users of cryptocurrencies such as Bitcoin (CRYPTO: BTC).

What Happened: A Friday announcement reads that "any legal person established in Belgium that wants to provide exchange services between virtual currencies and legal currencies, or custody wallet services, within Belgium will have to register with the FSMA in advance." Crypto service providers already operating on May 1 need to notify the FSMA of their activity before July 1, and apply for registration with the regulator before Sep. 1, 2022.

See Also: How To Earn Free Crypto

The report follows Charles Hoskinson — the creator of one of the top cryptocurrencies by market cap, Cardano (CRYPTO: ADA), recently suggesting U.S. regulators are not be ready to handle the crypto ecosystem and its implications. A major point he made is that some cryptocurrencies can be used as securities, currencies and commodities, which basically voids the category-based regulatory paradigm in the U.S.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.