The Liberal Party of Belgium proposes to postpone the losses of crypto-investors
Do you know how the Belgian government treats cryptocurrency? Indeed, Belgium is considered one of the most crypto-friendly countries in Europe. There are numerous locations and places where you can spend your crypto coins in Belgium. If you want to know more about the payment option with crypto in Belgium, read our past article.
Mouvement Réformateur
Belgian liberals decided to encourage the cryptocurrency industry. MR (Mouvement Reformateur) announced the findings of cryptocurrency research at the end of July 2022. The report, conducted by the party’s Jean Gol Center, provides ideas for strengthening the Belgian cryptocurrency ecosystem.
First of all, the Liberal Party is quite friendly in the context of cryptocurrencies. It plans to encourage the development of an ecosystem of companies around blockchain and cryptocurrencies, according to MR president Georges-Louis Bouchez.
Cryptocurrency support
According to the European Central Bank, the country has 500,000 crypto investors. Despite warnings from the Belgian regulator, the Financial Services and Markets Authority (FSMA), 10% of Belgian residents have invested in cryptocurrencies. The FSMA warns against the risks of using and storing digital currencies, pointing to potential financial losses.
MR president Georges-Louis Bouchez, for his part, disregards the regulator’s warnings. As he explains it, crypto-entrepreneurs are economic players who invest in the real economy. In conclusion, it impacts and improves economic activity.
According to Georges-Louis Bouchez, rather than identifying all of the potential challenges and drawbacks, they chose to position themselves in support of technological growth. However, the Liberal Party of Belgium has progressive views on cryptocurrency and blockchain technology.
Cryptocurrency in Belgium
Belgium’s FSMA has begun licensing local businesses that offer cryptocurrency services to residents. According to the Belgian supervisory authorities, all local cryptocurrency trading platforms and custodial wallet providers must receive a license to trade with digital assets from May 1. According to the appeal, new laws are being developed to control the ever-expanding crypto business.
According to the regulator, the registration of cryptocurrency businesses ensures that all crypto enterprises follow security requirements. Otherwise, any unregistered exchange or custodial wallet provider without a license may risk penalties or more serious legal consequences.
It’s important to note that bit4you is the first Belgian cryptocurrency trading platform, operating at the European level. That’s why you can be sure to receive the most comprehensive variety of crypto-related services fast. Also, be sure to register your bit4you account and complete verification to trade more than 70 coins without any limits.
To increase your proficiency in the crypto sphere, visit the bit4you Academy section. Also, practice with the demo mode at any time. Trade on bit4you with pleasure and do not hesitate to test out the advantages.
