Belgium's Financial Services and Markets Authority (FSMA) has ordered crypto exchange Binance to immediately suspend its services related to digital assets in the country.
According to the message shared by the regulator:
"Persons or firms governed by the law of a country that is not a member of the European Economic Area are prohibited from offering or providing, within Belgium, by way of a professional activity – even if supplementary or ancillary – exchange services between virtual currencies and legal currencies or custody wallet services."
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According to the regulator's press release, the decision to prohibit activities is due to Binance providing services from countries that are not members of the EEA.
A spokesperson for the platform has reported the company was disappointed with the news:
"We are disappointed to learn that the FSMA has come to this decision despite our ongoing conversations. We are reviewing the details of their notice and will continue to work collaboratively with regulators in Belgium and around the world in compliance with our obligations."
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The SEC sued Binance and its CEO, Changpeng Zhao, on June 5. The regulator filed 13 charges, including the sale of unregistered securities.