The Belgian Financial Services and Markets Authority (FSMA) made two crypto-related announcements on Friday. In addition to a new warning against cryptocurrency fraud, the regulator revealed:
The agency elaborated that “this list is based solely on observations made by the FSMA on the basis of reports received from consumers. It, therefore, does not include all players that may be unlawfully active in this sector.”
The FSMA further emphasized that “there is no current supervision of online platforms active in the cryptocurrency sector.”
In its warning against cryptocurrency fraud, the FSMA noted that the form of fraud varies such as involving “[the] purchase of cryptocurrencies, savings accounts based on cryptocurrencies, management agreements, ICOs, etc,” adding:
In March, the Brussels Times reported that Belgian tax authorities had started hunting for cryptocurrency investors. “Anyone speculating on the cryptocurrency market must pay tax of 33% on gains made, and declare these within the section ‘miscellaneous income’ on their tax return,” the publication detailed. However, the tax authorities are facing challenges since “the management of cryptocurrency assets happens through impenetrable foreign trading platforms,” the news outlet conveyed.
Early this month, news.Bitcoin.com reported that the number of crypto ATMs in Belgium is growing.
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