Binance has announced that it will be leaving the Dutch market, with immediate effect, and will not accept any new users residing in the Netherlands. From July 17, 2023, at 00:00 UTC, existing Dutch residents will only be able to withdraw assets from the Binance platform, with no option to make further purchases, trades, or deposits. Users are urged to withdraw assets from their Binance accounts accordingly.
Despite having engaged in an extensive registration application process as a virtual asset service provider (VASP) with Dutch regulators, Binance has been unable to obtain the necessary registration at this time. The company remains committed to seeking authorization to provide its products and services to users in the Netherlands.
Binance remains compliant with EU anti-money laundering and counter-terrorism financing standards, as evidenced by its registrations in other EU countries, including France, Italy, Spain, Poland, Sweden, and Lithuania. The company is also working towards full compliance with the new EU rules on crypto-assets (MiCAR).
Existing Dutch-based users will receive an email detailing the impact on their accounts and any necessary steps they need to take. Binance intends to continue engaging productively and transparently with Dutch regulators.