Belgium Returns to the Crypto Space

 

Hi all!

 

It would seem to be an insignificant event: the largest crypto exchange Binance is resuming its operations in Belgium. Let me remind you that three months ago due to the pressure from Belgian regulators Binance suspended its operations under this jurisdiction.

 

What has happened? But one should be able to find compromises. Unlike the same SEC, Belgian regulators came to an understanding with Binance.

 

It seems that the recently adopted EU rules regarding cryptocurrencies, which will come into force at the end of 2024, also influenced the decision of the Belgian authorities.

 

Another step has been taken to build a normal legislative framework in the cryptocurrency sector. The more such disputes and their outcomes, the faster we will come to clear legal regulation, and the faster this happens, the better it will be for everyone.

 

The European Union, through its actions in recent months, shows that the crypto market has already become an important part of the economy and bans cannot solve anything. If everything is prohibited the market will move to more loyal jurisdictions.

 

I am sure that this year we will see new bills regarding crypto in the EU. Of course, legislators can “overdo” with regulation but there are courts where the rights can be defended. And the more of them exist, the faster the industry will settle.

 

This means that cryptocurrency will receive another impetus for development. One thing when this market is in a semi-legal status, another when the law clearly states what is possible and what is not.

 

#Belgium #CryptoSpace #Binance