#Binance , the world's largest cryptocurrency exchange, has failed to obtain a virtual asset service provider (VASP) license from the Dutch regulator, proving that the anti-money laundering (AML) guidelines have been met. The stock market announced that it would leave the country after the failure.
According to the exchange's statement, customers residing in the Netherlands will only be able to make withdrawals through the platform from July 17. #BinanceTournament
The statement reads as follows: "We are very sad to announce that Binance is leaving the Dutch Sunday. Unfortunately, this means that as of today, new users residing in the Netherlands will not be accepted. Starting from July 17, 2023, existing users will only be able to withdraw money from the Binance platform. Purchase, trade or deposit transactions will not be possible. We urge our users to perform appropriate transactions by withdrawing their assets.” #dyor
“Although Binance has explored many alternative ways to provide services to Dutch citizens in accordance with the regulations, unfortunately, the process did not result in a VASP license.”
The exchange added that it would continue to work with Dutch regulators.
Currently, existing Dutch users are being sent an email with comprehensive information about what their account will be and the steps they should take.