TechFlow reports that Binance has announced its exit from the Dutch market. Effective immediately, residents of the Netherlands can no longer register accounts on Binance. Starting July 17, 2023, at 00:00 UTC (02:00 UTC+2), existing Dutch users will only be able to withdraw their assets from the Binance platform and will no longer be permitted to conduct further trading, deposits, or purchases. Users are advised to take appropriate actions to timely withdraw their assets held on Binance.
As a Virtual Asset Service Provider (VASP), Binance has been undergoing a comprehensive registration process with Dutch regulatory authorities. Although Binance has explored various alternative pathways to comply with Dutch regulations and continue serving Dutch residents, it has not yet succeeded in obtaining registration. Binance will continue its efforts to secure authorization to provide products and services to users in the Netherlands.
Existing users residing in the Netherlands will receive an email containing details about their account status, any assets they currently hold on the Binance platform, and any required actions. While Binance is disappointed by this outcome, it remains committed to maintaining productive and transparent engagement with Dutch regulators.
