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Belgian Registration for New Crypto Firms Kicks In on Sunday

Existing exchange providers have until June 1 to notify under the anti-money laundering law

By Jack Schickler
AccessTimeIconApr 29, 2022 at 2:07 p.m. UTC
Updated May 11, 2023 at 4:28 p.m. UTC
Brussels, Belgium (Allan Baxter/Getty Images)
Brussels, Belgium (Allan Baxter/Getty Images)
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Belgian crypto exchange providers must register with the authorities if they plan to start operating after May 1, the country's financial regulator said in a statement Friday.

  • Those already operating have until June to notify the regulator under a law finalized in February, which also covers providers of custodial crypto wallets.
  • The move follows European Union laws known as the Fifth Anti-Money Laundering Directive, intended to ensure wallet providers report suspicious activity.
  • Failure to comply can lead to a year in jail or a fine of 10,000 euros ($10,500).

See also: European Crypto Firms Brace for Higher Costs as AMLD5 Takes Effect

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Jack Schickler
Jack Schickler

Jack Schickler was a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He doesn’t own any crypto.

Follow @jackschickler on Twitter

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