Belgium’s financial regulator stated that bitcoin and ethereum are not securities

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Cryptocurrencies like Bitcoin and Ethereum cannot be classified as securities or investment vehicles, according to a statement from the Belgian financial regulator.

FSMA: Securities Laws Do Not Apply to Bitcoin and Other Decentralized Cryptocurrencies In response to numerous requests for clarification from citizens and businesses, the Belgian Financial Services and Markets Authority (FSMA) believes that Bitcoin, Ethereum, and other similar cryptocurrencies cannot be considered securities or investment vehicles. However, if these crypto assets have payment or exchange functions, or are exchangeable or fungible, then different regulations may apply, not only to those who provide certain related services. To provide guidance to stakeholders who are increasingly asking questions about the financial regulation of crypto assets,

 “Eligibility as a security, financial or investment vehicle is not dependent on the technology used,” he explained, adding that it is ready to update its plans to reflect future regulatory changes. In July, the FSMA launched a consultation on the classification of crypto assets. .

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