The Belgian authorities will regulate transactions with digital currencies by securities laws.
Last Wednesday, the Financial Services and Markets Authority (FSMA) issued a statement saying that Belgian law will be guided by the European Union's anti-money laundering regulatory framework.
Issuers of tokens will be able to work in the domestic market only if they comply with the requirements of the securities law, the regulator emphasized. The final decision has not yet been made, as the authorities are discussing options for legalizing the industry with experts and crypto businesses.
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However, the FSMA emphasized that, most likely, the authorities will not make any significant changes to the current legislation.
The activities of issuers of digital assets will be controlled by existing regulators, and securities legislation will be used as a regulatory framework.
The Financial Services and Markets Authority believe that cryptocurrencies need strong regulation. This agency often urges Belgian citizens to refrain from investing in such tools that can be used in fraudulent schemes.