Belgium Finance Regulators Plan Crypto Regulations – Cryptocurrency Regulation

The Financial Services and Markets Authority (FSMA) recently released that they spoke to the government of Belgium to regulate the use of digital currencies for transactions.

According to reports, the topic came up during a Senate hearing in Belgium. Senator Jean-Paul Servais, who functions as the chairman of FSMA, made this statement.

In his proposition, he urged lawmakers to establish a legal framework for the sale, purchase, and use of virtual currencies. As well as, for all related financial products.

A feather from other countries books

Besides, Jean-Paul made reference to countries like Russia, China, Argentina, and Algeria. He pointed out that these countries either properly regulated or banned the use of cryptocurrencies altogether.

Furthermore, he mentioned the inefficiencies of the Belgian authorities in addressing the industry that’s obviously growing at an alarming rate.

He also pointed out the conflicts that involved warnings issued by the market watchdog and the National…