Binance announced its departure from Netherlands

Binance, the global cryptocurrency exchange, has ceased operations in the Netherlands, exiting the Dutch market after a failed application to secure a virtual asset service provider (VASP) licence.

Binance is leaving the Dutch market, the crypto firm announced today. Binance said in a tweet “We regret to announce that Binance is leaving the Dutch market as we have been unable to register as a VASP with the Dutch regulator. We continue to be committed to working collaboratively with regulators around the world and are additionally focused on getting our business ready to be fully MiCA compliant”.

The services are being suspended immediately, and no new customers from the Netherlands can register accounts with the crypto exchange. Existing Dutch users will be able to withdraw assets from the Binance platform beginning July 17, with no new purchases, trades, or deposits permitted.

Binance stated it explored several options to serve Dutch residents in accordance with local rules. However, none of these routes led to VASP registration. The cryptocurrency exchange is issuing emails to its Dutch customers with detailed instructions on how to proceed with their Binance accounts.

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