Belgium is ready to partially recognize cryptocurrencies

The Belgian authorities have announced that they will regulate digital currency transactions under the securities law.

According to representatives of the Financial Services and Markets Authority (FSMA), Belgium will be guided by the European Union’s anti-money laundering framework. Cryptocurrencies will be able to be presented on the domestic market only after fulfilling all the requirements of the Securities Act.

Cryptocurrency platforms operating in Belgium and across the EU will also have to comply with specific rules. Yesterday, the European Parliament adopted two new laws on cryptocurrency regulation: The Digital Services Act (DSA) and the Digital Markets Act (DMA). According to representatives of the European Parliament, cryptocurrency platforms face fines of up to 10% of their total annual turnover and up to 20% in case of repeated violations.