The Belgian regulator said that cryptocurrencies without an issuer, such as Bitcoin and ETH, are not securities.
The regulator stated that there are many questions regarding the regulatory framework regarding crypto and gray areas in the industry will be addressed.
Crypto Statement From The Belgian Regulator
The Belgian Financial Services and Markets Authority (FSMA) said that assets that do not have any issuers, such as Bitcoin and ETH, will not be recognized as securities.
Discussions on whether cryptocurrencies are securities in the US continue over Ripple’s XRP token. SEC Chairman Gary Gensler continues to emphasize that the majority of cryptocurrencies are securities at every turn.
The FSMA stressed that the rules are “technology neutral.” According to the regulator, the classification of a financial instrument as a security is not dependent on whether it uses blockchain or something more traditional.
In consultations held in July in the country, it was stated that transferable instruments would most likely qualify as securities.
In the European Union, the crypto regulation efforts have come to an end. The draft MiCA is expected to come into force in the coming years.
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