Binance returns to Belgium with Polish subsidiary

Recently awarded by the regulator local cease his crypto offer at Belgium, Binance announces that it now serves Belgian users via sa subsidiary Binance Poland.

At the end of June, the FMSA ordered Binance to “immediately cease offering any services related to virtual currencies” in the country. The Belgian regulator stated that the exchange was offering crypto services “from countries outside the European Economic Area”.

About 2 months later, Binance now indicates that its Polish subsidiary is the entity that provides Binance services to Belgian residents. “By doing so, Binance ensures that it complies with its regulatory obligations and can continue to provide services to Belgian users,” the exchange wrote in a statement on Monday.

According to the announcement, customers based in Belgium must accept Binance Poland terms of use to use the platform and, in some cases, undergo a new KYC check.

Binance will be able to continue to serve Belgian users in compliance with local regulatory requirements. Binance Poland is able to provide cryptocurrency exchange and custody services in accordance with its registration as a Virtual Asset Service Provider (VASP) in Poland,” the crypto-trading giant concluded.

Binance today faces numerous legal and financial challenges in Europe and the United States. The native token of the crypto exchange, BNBrecently hit a one-year low.

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