Binance ordered by markets regulator to cease crypto services in Belgium

The Financial Services and Markets Authority is ordering cryptocurrency exchange Binance to immediately stop offering its crypto services in the country, according to a notice dated Friday. The Changpeng Zhao-led company is in violation of a prohibition by "offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area," the markets regulator said . The news comes as Binance found itself in the regulatory spotlight, having been sued by the U.S. Securities and Exchange Commission for violating the country's securities laws. The platform said Thursday in a court filing that it has hired former Justice Department prosecutor Kendall Day to represent Binance in the suit. More on Binance Binance pulls out of Netherlands after failing to get VASP registration Binance.US lays off about 50 people - report Two senators want DOJ to probe whether crypto giant Binance lied to lawmakers - report