Binance, a global crypto exchange, has announced that its Poland entity, Binance Poland sp. z o.o., will be providing services to residents of Belgium. This follows an order from the Belgian Financial Services and Markets Authority (FSMA) to stop offering crypto exchange and custody wallet services due to violations of the country’s Anti-Money Laundering and Combating the Financing of Terrorism requirements. Users may need to submit documentation in accordance with Know Your Customer requirements for Poland rather than Belgium. Binance has had a number of regulatory entanglements since its launch, including halting services for Dutch users in July due to a failure to obtain a virtual asset service provider license. The exchange and its CEO Changpeng Zhao are also facing a lawsuit from the United States Securities and Exchange Commission. The Markets in Crypto Assets legislation, a bill aimed at establishing a consistent regulatory framework for crypto assets among the European Union member states, is expected to take effect in 2024. The framework is currently moving through a consultative phase for feedback on technical standards.

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Information	Details
Geography	Europe
Countries	🇧🇪 🇵🇱 🇳🇱 🇺🇸
Sentiment	neutral
Relevance Score	9
People	FSMA, SEC., EEA, Changpeng Zhao
Companies	European Economic Area (EEA), European Uni, Binance Poland sp. z o.o., Belgian Financial Services and Markets Authority (FSMA), United States Securities and Exchange Commission
Currencies	None
Securities