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

AccessTimeIconApr 29, 2022 at 2:07 p.m. UTC
Updated Apr 29, 2022 at 2:42 p.m. UTC

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

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).

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

CoinDesk - Unknown

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

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