Belgium has finalized the basic banking service framework for companies, among others, by creating the long-awaited basic banking service chamber, as a result of which the new rules can now finally take effect.
On 23 February 2022, the Belgian Royal Decree of 8 February 2022 on the status and supervision of service providers for the exchange of virtual currency and fiat currency and custodian wallet providers (“Virtual Currency Royal Decree”) was published in the Belgian State Gazette. The Virtual Currency Royal Decree introduces registration requirements and operating conditions for virtual currency service providers into Belgian law. The Virtual Currency Royal Decree will enter into force on 1 May 2022, with a grandfathering regime for existing service providers.