Binance waives registration with the FSMA. Its CEO, Changpeng Zhao, had however recently indicated that he wanted to obtain approval in Belgium.
Flip-flop for Binance. The largest cryptocurrency exchange platform (nearly 100 million users worldwide) waives registration with the FSMA.
Binance was in contact with the financial markets regulator in view of a registration in the register of virtual and fiat currency exchange service providers. This first step of recognition of the crypto-stock exchange by the FSMA should allow Binance to show its credentials in Belgium. But on the eve of the registration deadline, the company chose not to submit a file.
Recently interviewed by the Echo, Binance CEOChangpen Zhao – popularly known as CZ – , nevertheless affirmed its intention to register in Belgium with the FSMA. “Pending the adoption of the new European regulations (Mica), we must register in each country,” he told us.
“Belgian regulations apply to platforms that have a physical presence in Belgium, which is not our case.”
The company explains this change of direction by legal considerations. “Belgian regulations apply to platforms that have a physical presence in Belgium, which is not our case,” said Martin Bruncko, vice president of Binance in Europe. Nothing could be simpler, however, for Binance, than to create a legal entity in Belgium.
If the crypto-exchange gives up registering with the FSMA, it claims to continue this process in other European countries. Otherwise, the decision taken for Belgium would only be temporaryevokes Martin Bruncko: “In the crypto market, everything can change very quickly.”