REGULATION

Europe's land grab in progress? Binance announces resumption of services in Belgium, opens registration

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Binance Resumes Services in Belgium

After a three-month hiatus, Binance has officially announced the resumption of its services in Belgium. Belgian citizens are now able to re-register on the platform, and the tweet also specifically mentioned new user terms, which users must accept before being able to use various Binance products and services.

Binance Faces Repeated Setbacks in Europe

During the third quarter, Binance has faced a series of rejections for registration in several European countries, without disclosing too many regulatory details externally.

Recent regulatory challenges in Europe include:

  • United Kingdom: Binance's UK division has ceased registration with the Financial Conduct Authority (FCA)

  • Netherlands: Binance announced its exit from the Dutch market, only providing withdrawal services after mid-July

  • Germany: Rejected registration in June, Binance spokesperson confirmed voluntarily withdrawing the German license application

  • Austria: Withdrawn license application in Austria, planning to return to the EU under the MiCA framework

  • France Investigation: Foreign media revealed a money laundering investigation involving Binance in France, denied by Zhao Changpeng

  • Belgium: Financial Services and Markets Authority of Belgium ordered Binance to cease services, potentially facing criminal penalties

Belgium is one of the 27 member states of the EU, which may indicate Binance's gradual recovery in Europe.

Binance: Returning to the EU under MiCA Compliance

A Binance spokesperson previously stated that the focus in Europe is to ensure full compliance when MiCA officially launches next year.

The response from the Binance spokesperson seems consistent with founder Zhao Changpeng CZ's remarks in April this year, where he expressed support for MiCA and emphasized Binance's plans to adjust its operations over the next 12-18 months to be fully compliant.