Binance, the leading cryptocurrency exchange on a scale has made a comeback in the Belgian market after facing regulatory challenges in the past.
On September 25 Binance announced that it has resumed its operations in Belgium. This news comes after the Belgium Financial Services and Markets Authority issued an order back in June, which required Binance to halt its activities within the country.
Binance faced hurdles in Belgium due to operating its services from outside the European economic area. The authorities in Belgium have prohibited entities and individuals located outside the economic area from offering exchange services between cryptocurrencies and fiat currencies as well as providing custody services.
It seems that this issue has been resolved by relocating Binances operations to its subsidiary established in Poland, which is situated within the European Union. Reports from media sources, at that time indicated that this subsidiary primarily focuses on serving the Belgian market.