French billionaire Bernard Arnault has denied reports that he was involved in a Belgium-based cryptocurrency trading firm.
The Kingdom of Belgium is a western European country with 30,500 square kilometers of area and a population of more than 11 million people. Belgium has a very productive labor force and developed economy that is highly integrated into the rest of Europe. Belgium has one of the largest GDP per capita, strong scientific work and fintech sector. Belgium has no Bitcoin restrictions. Belgian authorities do not consider Bitcoin to be a threat to the economic stability of the country and therefore it does not require specific regulations. However, Belgium’s Bitcoin exchanges — as any financial institution — work under the regulations of Anti-Money Laundering and Know Your Customer policies. Belgium has Bitcoin taxes, at 33 percent on any cryptocurrency income. Belgian authorities proposed legislation for cryptocurrency transactions control, but Brussels is yet to announce any implementation of it.
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