Belgium’s Financial Services and Markets Authority said that Binance is providing trading and wallet custody services in Belgium from countries that are not members of the European Economic Area, which is prohibited.
The agency demanded that Binance “take immediate measure” to return all Belgian clients their cryptographic keys and virtual currencies that Binance holds for their account,” or transfer them to authorized services. Binance, run by Changpeng Zhao, considers itself a virtual company without a headquarters.
“The Crown Prosecutor of Brussels has been informed of the acts that are liable to constitute a criminal offense,” the agency said in a statement Friday.
Source: Belgian Authorities Order Binance to Cease Country Operations – Bloomberg
