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Belgium’s financial regulator, FSMA, has ruled that Bitcoin and Ethereum are not securities, marking a significant win for the crypto industry. However, other regulations may still apply depending on their use as payment or exchange instruments.
- FSMA excludes Bitcoin and Ethereum from securities classification due to their decentralized nature.
- Crypto assets with payment or exchange functions may still face other regulatory requirements.
- Belgium's approach is technology-neutral and aligns with the upcoming EU-wide MiCA regulation.
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