Belgian Financial Services and Markets Authority: Cryptocurrencies like BTC and ETH without issuers are not securities

ChainCatcher news, the Belgian Financial Services and Markets Authority (FSMA) recently stated that cryptocurrencies without issuers, such as BTC and ETH, are not securities. Belgium's rules are "technically neutral," and they believe that the classification as financial instruments or securities should not depend on whether the asset uses blockchain or more traditional means. However, crypto companies still need to comply with regulations related to anti-money laundering and other relevant laws.
Previously, in jurisdictions like the United States, the debate over whether cryptocurrencies fall under securities has led to multiple court lawsuits. The Belgian regulations passed in 2014 stipulate that it is illegal for professionals to distribute cryptocurrency-based financial products to retail clients. (source link)