Belgium’s Financial Services and Markets Authority (FSMA) imposed new rules requiring crypto companies operating in the country to register with the watchdog and hold minimum regulatory capital.
The new rule will require any virtual assets service provider (VASP) operating in the country to inform the FSMA of their activities before July 1 and apply for registration before September 1.
The rule will apply to entities providing custodial wallets and crypto exchange services and crypto firms looking to begin operations in the European country.
Criteria for operating in Belgium
Per the announcement, VASPs that want to operate in the country need to have a minimum capital of €50,000 (approximately $52,718) and have a corporate structure.
The entity must also establish an administrative office in Belgium and will have to contribute to the operating cost of the FSMA in regulating it. The new rules are similar to regulations adopted by the New York Department of Financial Services (NYDFS)
We współpracy z: https://cryptoslate.com/belgian-regulator-mandates-registration-for-companies-providing-crypto-related-services/
