Binance, the world’s largest cryptocurrency exchange, announced that it is leaving the Dutch market.
Binance has recently license in Cyprus In his official statement shortly after he applied for deletion, he now withdrawn from the Dutch market. announced.
In the details of the statement, 16 June as of resident in the Netherlands No new users will be accepted.
With this 17 June at 03:00 CET As of today, existing users residing in the Netherlands can deduct from Binance. can only withdraw assets declared. Users as of the specified date trading and depositing won’t be able to. The exchange also advised users to withdraw their holdings.
On the other hand, Binance stated that it is looking for many alternative ways to serve Dutch residents in accordance with the country’s regulations. that they did not get the result they wanted underlined:
Binance is in a comprehensive registration application process with the Dutch regulatory agency as a virtual asset service provider (VASP). Unfortunately, we were not able to obtain the licenses we wanted, although we looked for many alternative ways to serve Dutch residents in accordance with Dutch regulations. Binance will continue to strive to obtain necessary permissions to offer its products and services to users in the Netherlands.
Between the lines of the statement, the EU will put into practice in the coming period. MiCA with the legislation to become compatible It was emphasized that the work continues:
Binance continues to work in collaboration with regulators around the world. We are also focusing on making our business fully compliant with the new EU rules (MiCA) regarding cryptoassets.
Binance has recently South Cyprus He stated that his request to apply to have his license revoked was made to align with MiCA.
on the other hand Dutch Central Bank (DNB)for continuing to provide services to Binance without completing proper registration procedures $3.3 million was fined.