Heavy!Binance withdrew from the Dutch market and was unable to obtain a VASP license from the authorities |

2023-06-16 09:40:35

(background supplement:“Warning” top 10 cryptocurrencies this year “trading depth plummeted by 20%”, Binance liquidity dropped by 25%

rootAccording to Binanceannouncement, Binance will close its business in the Netherlands, mainly because it failed to persuade Dutch regulators to apply for a virtual asset service provider (VASP) license. Starting July 17, users in the Netherlands can only withdraw funds from Binance.

The announcement stated:

We regret to announce that Binance will leave the Dutch market, effective immediately, and will no longer accept new registrations from Dutch users. Beginning July 17, existing Dutch users can only withdraw funds from the Binance platform and cannot make further purchases, transactions or deposits.

Binance has been working on a full registration application with the Dutch regulator as a Virtual Asset Service Provider (VASP). Although we have looked for many alternative ways to serve Dutch residents in compliance with Dutch regulations, unfortunately it is not currently possible for Binance to register a VASP license in the Netherlands.

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