Binance gets in trouble with another financial regulator. Details inside…

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Binance was in the news once again and it wasn't good for the exchange. As of 23 June, Belgium's financial authority ordered the cryptocurrency exchange to halt all operations with immediate effect.

The exchange is also required to return customers their assets

Additionally, the regulator stated that failure to comply with its law could subject the firm to criminal sanctions. And, the case would fall under its Anti-money Laundering and Terror Financing Act.

Furthermore, Binance has to also return Belgium users their cryptocurrencies. Otherwise, it has to transfer their assets to other crypto service providers governed by the EEA member state. It added that “The Crown Prosecutor of Brussels has been informed of the acts that are liable to constitute a criminal offence.”

 

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