Binance Decides to Exit from Netherlands
Binance, the leading global cryptocurrency exchange, has announced its departure from the Netherlands due to its inability to secure a virtual asset service provider (VASP) license from the Dutch regulatory authorities. This license is essential as it ensures compliance with anti-money laundering (AML) regulations.
According to an announcement from the exchange, starting July 17, residents of the Netherlands will have the ability to solely withdraw their funds from the platform.
Binance has stated that it has undergone an extensive registration application process to become a virtual asset service provider with the regulatory authorities. However, despite exploring various options to cater to the Dutch residents while complying with Dutch regulations, the company has not obtained a VASP registration in the Netherlands at this time.
