The world’s largest crypto exchange, Binance, said it’s exiting the Dutch market as it has been unable to obtain registration as a crypto service provider. The news comes after Binance’s entity in Cyprus applied to be removed from the country’s register of digital asset service providers.
Binance Leaves the Netherlands and Cyprus to Focus on Other EU Jurisdictions
Binance, the leading global cryptocurrency exchange, is pulling out of the Netherlands. On Friday, the company revealed that its attempts to work in the country in compliance with local regulations have not resulted in a registration as a virtual asset service provider (VASP).
Starting from July 17, existing customers will only be able to withdraw assets, Binance said in an announcement, while deposits, purchases, and trades will not be possible. “With immediate effect, no new users residing in the Netherlands will be accepted,” the platform emphasized.
promised to “continue striving to obtain authorizations t
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