What you can do if you live in the Netherlands & have Binance:

🇳🇱 As we know from the news, Binance have to leave Dutch Market by now. I hope it would be only for a while and some time soon they return when finally regulated.

This applies for who has KYC and is living in the Netherlands. If your residence is in another country, it doesn´t affect you. We all have to be regulated in the country we live.

What you can do:

You can always withdraw them at any time.

You can send them to some wallet like Trust wallet if tokens are available there.

You can convert tokens and withdraw them in euros at the ATM with the Binance card (up to 290 euros per day, keep in mind that some ATMs may charge a 1-3 euro fee, so 280 at 280 is better).

Wait until Binance obtains authorizations to provide products and services to users in the Netherlands.

Official Binance Tweet:

We regret to announce that Binance is leaving the Dutch market as we have been unable to register as a VASP with the Dutch regulator.

We continue to be committed to working collaboratively with regulators around the world and are additionally focused on getting our business ready to be fully MiCA compliant.

Dutch users have received an email on how this impacts them and any steps they will need to take.

https://www.binance.com/en/support/announcement/notice-on-changes-of-services-in-the-netherlands-b5a647be31cf469b87fc3337fd461ced?ref=AZTKZ9XS&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial

Mail from Binance for further and exact details about what is going to happen:

Which positions need to be reduced and closed before and on July 17th, 2023?

July 12th, 2023:

Binance Loans: All outstanding positions in Binance Loans will be automatically liquidated on July 12th 2023. A 2% loan liquidation fee applies. We recommend that you kindly repay your loans, if any, before July 11th 2023 23:59 (UTC+0) to avoid liquidation fees and potential losses due to loan liquidations.

Binance EARN: New subscriptions will no longer be available. This includes: Simple Earn, BNB Vault, Defi Staking, ETH Staking, DOT slot auction, Binance Pool, Cloud Mining, Liquid Swap, Auto-Invest.

July 17th, 2023:

Crypto deposits will be unavailable. Aoid sending crypto to previously saved addresses.

All trading products will be unavailable. This includes: Spot, Convert, Binance NFT.

Binance EARN positions will be closed. This includes: Flexible Simple Earn, BNB Vault, Flexible Defi staking, Binance Pool, Liquid Swap, and Auto-Invest.

Binance Finance products will be unavailable. This includes: Binance Card and Pay.

Please pay attention to the following exceptions:

Crypto withdrawals remain available after July 17, 2023.

EUR to USDT Convert Market Order remain available to allow for crypto withdrawals.

ETH Staking: please redeem ETH Staking before September 14th, 2023, no ETH Staking rewards will accrue and be distributed thereafter.

Existing Locked Simple Earn, Fixed-term DeFi-Staking Products, DOT Slot Auction, and Cloud Mining: The digital assets you used to subscribe will be returned to your spot wallet, together with any remaining accrued rewards, at the end of their respective subscription terms as usual. No new subscriptions are available.

This email is directed to Dutch residents. Please make sure to update your residency if you have received this email while not residing in The Netherlands.

More info on the exact process per product can be found below. Although we are disappointed that this stage has been reached, we look positively to the future.

We will continue striving to obtain the necessary authorisations to provide our products and services to users in The Netherlands. We will make every effort to be MiCA compliant, and will continue to communicate proactively, transparently and thoughtfully with Dutch regulators and other regulators around the world.

Kind regards,

Your Binance Team

#binanceNetherlands #MICA