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Bitcoin and Ether Needn’t Follow Financial Rules, Says Belgian Regulator

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Cryptocurrencies without an issuer such as bitcoin (BTC) and ether (ETH) are not securities, Belgium’s Financial Services and Markets Authority said Thursday.

The regulator said it was getting an increasing number of questions about the regulatory treatment of crypto and hoped to address the most frequently occurring gray areas, including when digital assets can be classified as securities.

The Belgian rule “is neutral as regards technology,” FSMA added, suggesting that classification as a financial instrument or security shouldn’t depend on whether an asset uses a blockchain or something more traditional.

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