- Binance has resumed its operations in Belgium after a three-month hiatus.
- The MiCA regulation will apply to crypto platforms from December 2024.
- Binance and MUFG are partnering to issue stablecoins in Japan by 2024.
Binance, a leading player in the cryptocurrency exchange market, has declared that its services are now accessible to clients in Belgium. This follows previous challenges due to regulations in the European Economic Area. The September 25, 2023 announcement confirms the resumption of Binance’s operations in Belgium.
Following a hiatus of over three months, the exchange has declared that it is resuming the acceptance of new registrations from users based in Belgium. This means that, subject to certain limitations, users can utilize Binance’s services and products once more.
Inspection of Compliance
As of December 30, 2024, the Markets in Crypto Assets (MiCA) regulation of the European Union will apply to cryptocurrency platforms serving European clients. The exchange has been under intense global examination regarding compliance for a considerable period.
In June, Belgium’s Financial Services and Markets Authority (FSMA) mandated that the exchange cease operations immediately. The directive necessitated an immediate stop to any services related to converting or exchanging digital currencies into traditional money within the jurisdiction of the country issuing the command.
Despite previous clarifications from the regulator that Binance.com does not offer its services in the country, users could still access the crypto exchange. Consequently, these services did not comply with the regulations established by the European Economic Area.
Additionally, recent data indicates that by 2024, the prosperous Japanese cryptocurrency market will be able to utilize stablecoins issued by Binance in US dollars, Euros, and Japanese yen. This initiative results from a partnership between Binance and the trust banking sector of the Mitsubishi UFJ Financial Group (MUFG).
