Bitcoin and Ether Statement from the Belgian Regulator

According to a new rule from Belgium's financial regulator, the Financial Services and Markets Authority (FSMA), crypto exchanges and custodian wallet services in the region must register before a strict deadline.

According to the information shared by the FSMA, from May 1, legal entities and organizations that want to provide crypto exchange services or custody wallets in Belgium are required to register in advance.
Prior to the official announcement, crypto companies operating in Belgium are required to notify the FSMA of the 'implementation of their activities' within the next 2 months (before July 1).

In addition, existing businesses were given four months (until September 1) to register with the financial regulator.

Crypto service providers are required to meet seven conditions to maintain their active registration with the FSMA, including being a company with at least $52,725 (50,000 euros) capital.

The FSMA expects to process registration applications within three months, considering that all necessary information has been provided. Crypto service providers will receive a unique registration number (company number) after successful registration, which must be used for all other interactions with the FSMA.

You may be interested in: Belgian MP will receive his salary in Bitcoin

Belgium's pro-crypto stance was demonstrated in early 2022 when Brussels MP Christophe De Beukelae became the first European politician to receive a salary in Bitcoin.

As Cointelegraph reported last January, Beukelaer announced that he used the Bit4You crypto trading platform to convert his monthly salary of $6,140 into BTC.

During this statement, the MP also stated that he is trying to inspire other politicians in the region to support the growth of the crypto economy.