Cryptocurrencies that don't have an issuer – like bitcoin and ether – are not financial instruments or securities, Belgium's FSMA_Info says. By jackschickler
, which requires financiers to be clear and to avoid conflicts of interest. But cryptocurrencies like bitcoin don't count as they don't have an issuer.
Even if those rules don’t apply, there are still existing requirements on crypto companies to apply anti-money laundering procedures, the guidance said. A new EU law known as the Markets in Crypto Assets regulation is also due to take effect in the coming years – and will require new crypto offerings to produce a white paper, comparable to a stock prospectus.
Belgian rules passed in 2014 make it unlawful for professionals to distribute financial products based on crypto to
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