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<\/div>\n [vc_column_text css=”.vc_custom_1662471059021{padding-bottom: 50px !important;}”]<\/p>\nCrypto License in Belgium<\/h2>\n
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Starting any business is never an effortless feat and when it concerns cryptocurrencies, the situation is all the more overwhelming. These virtual currencies are occupying a space in the international market even though it is highly vulnerable to financial as well as regulatory risks. But still, stories of fortune and fame may direct anyone to start a business of cryptocurrencies in Belgium. And when this is the case, it’s important to learn about the mandatory regulations that are effective in this business operating in Belgium.<\/p>\n
The Belgian Royal Decree on the status and supervision of businesses for exchanging virtual and fiat currency and custodian wallet providers has been implemented since May 1st, 2022. The Decree has clarified the process of registration for crypto brands that are willing to begin or already running in Belgium.<\/p>\n
This registration is essential under the AML regulations and therefore, businesses are required to give a clear understanding of the prerequisites. Crypto businesses that are running their operations but have not registered will be facing serious penalties after September 1st, 2022.<\/p>\n
The registration rule is applicable to all crypto businesses running and registered in Belgium. It includes:<\/p>\n
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- Exchange operations between fiat and virtual currencies<\/li>\n
- Custodian wallet providing services<\/li>\n<\/ul>\n
The Decree has further specified that any business offering such service as an additional basis will also have to register themselves. And it implies that the Decree also refers to the businesses registered by the Financial Services and Markets Authority as well as the National Bank of Belgium.<\/p>\n
It has also obliged to extend the registration to the businesses running in the EEA and EU functioning in Belgium. This means that the operators of ATMs that offer virtual currency exchange services will also fall under the category.<\/p>\n
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