Binance Resumes Services in Belgium

​Binance, the crypto exchange giant, announced on Tuesday (September 26) that it has resumed services in Belgium.

In the statement, Binance expressed its delight in welcoming new registrations from Belgian residents, along with the reinstatement of various Binance products and services for users who have accepted the platform's new Terms of Use.

In June, Belgium's top market regulator ordered Binance to cease serving local customers​, saying that Binance's exchange services involving virtual currency and legal currencies, as well as its custody wallet services from non-EEA members, violated a prohibition in the country.

As per the latest announcement, Binance established a Polish subsidiary​, Binance Poland sp. z o.o., in late August to cater to clients in Belgium, in compliance with regulatory requirements.

Binance is the world's largest crypto exchange by trading volume, which has been severely cracked down in recent months by regulators from several countries, including the U.S. SEC. In the latest news, Binance is fighting back against the SEC's lawsuit, claiming that the regulator's enforcement action was not authorized by Congress and was an act of overreach. Fazzaco will keep an eye on the matter.