Cryptocurrencies like bitcoin and ether cannot be classified as securities or investment instruments, according to a communication issued by the financial watchdog in Belgium. The authority has tried to clarify the matter, noting that the digital coins may be subject to other regulations.
FSMA: Securities Laws Do Not Apply to Bitcoin and Other Decentralized Cryptocurrencies
In response to multiple requests for clarification from citizens and businesses, Belgium’s Financial Services and Markets Authority (FSMA) has explained why it believes bitcoin, ether and other similar cryptocurrencies cannot be considered securities or investment instruments.
According to its position published on Thursday, the country’s securities laws do not apply to such digital assets, which have no issuer and are created by a computer code as opposed to the execution of an agreement between an issuer and an investor.
However, the regulatory body pointed out that if these crypto assets have a payment or exc
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