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Binance ordered to cease all virtual currency services by Belgian Financial Regulators

The Belgian Financial Services and Markets Authority has ordered major cryptocurrency exchange Binance to stop offering crypto exchange and custody wallet services. 

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The Belgian Financial Services and Markets Authority has ordered major cryptocurrency exchange Binance to stop offering crypto exchange and custody wallet services. 

In a June 23 notice, the FSMA said that by Binance offering crypto-related services “from countries that are not members of the European Economic Area,” the exchange was violating Belgian laws on Anti-Money Laundering and Combating the Financing of Terrorism. The financial regulator said Binance must cease “with immediate effect” all related services in Belgium.

According to the FSMA, Binance controlled an estimated 19 companies outside of the European Economic Area — European Union nations as well as Iceland, Liechtenstein and Norway — involved in its operations or technical support that did not appear in the terms and conditions Belgium users read when signing up for services. The regulator said it had made “several requests for information” from Binance but did not receive satisfactory answers identifying the services its companies provided.

“In spite of the opportunities offered to Binance on several occasions, the latter has failed to demonstrate, with due documentation and proof, that the exchange services between virtual currencies and legal currencies and the custody wallet services that it offers and provides within Belgium are carried out by means of a legal entity governed by the law of another member state of the European Economic Area that is duly authorized by its home member state to carry out these activities, including within Belgium,” said the FSMA.

As part of the order, Binance will be required to contact all its Belgium-based clients and return all crypto and private keys the exchange held.

The FSMA is just one of several national regulators taking action against Binance, as the United States Securities and Exchange Commission is currently pursuing a lawsuit against the exchange and its U.S. entity for alleged violations of securities laws.

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Ether crypto funds see $296M inflows in best week since Trump election

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Institutional investors funneled $296 million into Ethereum-focused funds over the past week, marking the largest weekly inflow since the U.S. presidential election in November. With these inflows, Ethereum has overtaken Bitcoin in terms of weekly gains in crypto investment vehicles.

The surge is part of a broader upswing in crypto asset allocations. Digital asset funds logged a total of $7.05 billion in net inflows during May, pushing crypto fund holdings to a record $167 billion. Within this, Bitcoin funds gathered $5.5 billion while Ethereum products attracted $890 million.

Analysts point to growing interest in Ethereum as it reels in capital seeking exposure to DeFi, smart contracts, and next‑generation blockchain infrastructure. Over the last 30 days, Ether’s price trended upward, and its ETH/BTC valuation ratio strengthened considerably.

Recent inflows into Ethereum products appear driven by supportive macroeconomic signals, improved technical price patterns, and rising adoption of spot Ether exchange‑traded funds (ETFs). Meanwhile, Bitcoin-focused funds saw outflows totaling around $56.5 million.

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Tether USDT stablecoin seen on Bolivian store price tags

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Retailers across Bolivia are now quoting prices in Tether’s USDT stablecoin for everyday goods like chocolates, sunglasses, and snacks, according to Tether CTO Paolo Ardoino.

The shift reflects growing reliance on stable digital currency as Bolivians seek protection against volatility in the boliviano, with USDT providing a more predictable value for both consumers and merchants.

Ardoino highlighted that using digital dollars at the point of sale offers practical advantages for everyday shoppers, and analysts suggest this could serve as a model for other countries facing currency instability.

This development builds on earlier steps toward crypto integration in Bolivia—most notably, the launch of USDT custody services by Banco Bisa in October 2024, under the oversight of the country’s financial regulator.

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Metaplanet shares jump after $5.4B plan to buy Bitcoin

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Tokyo-based Metaplanet has unveiled plans to significantly boost its Bitcoin reserves, targeting the acquisition of 100,000 BTC by the end of 2026—up from its previous goal of 21,000 BTC. The announcement, shared via X on June 6, follows a recent purchase increasing its holdings to 8,888 BTC and signals a bold move to expand its crypto presence .

The firm intends to buy at least an additional 91,112 BTC over the next 18 months. CEO Simon Gerovich emphasized that this accelerated acquisition is a deliberate response to global financial shifts, including geopolitical tensions, excessive sovereign debt, and growing doubts over traditional safe-haven assets like bonds and gold.

To fund this plan, Metaplanet will issue up to 555 million new shares via stock acquisition rights, supplementing its existing 210 million-share program. The issuance is expected to raise around ¥770.3 billion (approximately $5.32 billion) at an initial strike price of ¥1,388 per share.

Looking ahead, the company aims to hold over 210,000 BTC by the end of 2027—roughly 1% of Bitcoin’s fixed supply cap. This ambitious growth trajectory cements Metaplanet’s status as Asia’s leading corporate Bitcoin holder—a strategy that echoes the approach taken by U.S. firm MicroStrategy.

As Metaplanet positions itself for further expansion, its aggressive accumulation strategy and large-scale capital raising mark a transformative shift in how non-financial firms are using corporate treasury to gain exposure to cryptocurrencies.

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