Prominent cryptocurrency exchange Binance has devised a strategy to save its Belgian market following a suspension order by Belgium’s financial market regulator in June.
The world’s largest exchange was ordered to cease its operations in Belgium because it offered crypto services from countries outside the European Economic Area (EEA).
Binance Moves To Retain Belgium Market
According to a blog post on Monday, August 28, Binance redirects all its Belgian users to its Polish branch. The exchange claims this move allows it to meet regulatory compliance and maintain its customers in Western Europe.
Binance is a registered virtual assets service provider (VASP) in Poland, an EEA member state. Therefore, all Belgian crypto exchange customers can regain access to its trading platform by agreeing to the Terms of Use of Binance Poland.
However, the crypto exchange has stated that registered users may need to provide some know-your-customer (KYC) documents again to clear all Polish regul
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