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The world&#8217;s largest cryptocurrency exchange by volume, <a href="https://en.coin-turk.com/israel-confiscates-isis-linked-binance-accounts-binance-issues-statement/" data-wpel-link="internal">Binance</a>, has announced its withdrawal from the Dutch market due to an inability to reach an agreement with the local regulator. Binance indicated that the process to exit the Dutch market will begin immediately. From now on, new user registrations will not be permitted and existing users will only be allowed to withdraw funds. 
<h2 style="text-align: justify" id="span-data-contrast-auto-binance-could-not-agree-with-dutch-regulator-span">Binance Could Not Agree with Dutch Regulator</h2>
In its announcement about the decision to withdraw from the Dutch market, Binance stated that despite making an extensive application as a virtual asset service provider (VASP) to the Dutch regulator, they were unable to receive approval. This resulted in them not being granted the necessary permissions to operate in the country. The major cryptocurrency exchange also added that efforts are ongoing to obtain the necessary permissions to offer its products and services to users in the Netherlands. 
Beginning from 17th June, users residing in the Netherlands will no longer be able to buy, sell, or deposit on Binance. The users will be sent an email containing detailed information on what this decision means for their accounts and the assets (fiat money and cryptocurrency) held on the Binance platform, and the steps they need to take. 
<img decoding="async" loading="lazy" class="aligncenter wp-image-85035 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/binance-10.png" alt="" width="1348" height="668" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/binance-10.png 1348w, https://en.coin-turk.com/wp-content/uploads/2023/06/binance-10-300x149.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/binance-10-768x381.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/binance-10-1200x595.png 1200w" sizes="(max-width: 1348px) 100vw, 1348px" />
<h2 style="text-align: justify" id="span-data-contrast-auto-binance-8217-s-relationship-with-other-european-countries-span">Binance&#8217;s Relationship with Other European Countries</h2>
On the other hand, Binance emphasized that it has received the necessary regulatory permissions from other European Region (EU) countries including France, Italy, Spain, Poland, Sweden, and Lithuania. This indicates that the crypto exchange operates in full compliance with EU standards on preventing money laundering and financing of terrorism. 
Binance added that it will continue to cooperate with regulators worldwide and is focused on making Binance&#8217;s operation fully compliant with the upcoming EU rules (MiCA) for cryptocurrencies. 
Speculation has arisen following Binance&#8217;s decision to exit the Dutch market as it comes after the U.S. Securities and Exchange Commission (<a href="https://en.coin-turk.com/macro-guru-bitcoin-btc-will-fly-when-people-understand-this/" data-wpel-link="internal">SEC</a>) filed a lawsuit against the crypto exchange and its CEO, Changpeng Zhao (CZ), on June 5th for allegedly violating securities laws. This has led to commentary suggesting that Binance may soon withdraw or be forced to withdraw from several countries, primarily the United States. 
The post <a rel="nofollow" href="https://en.coin-turk.com/binance-announces-withdrawal-from-dutch-market-amid-regulatory-issues/" data-wpel-link="internal">Binance Announces Withdrawal from Dutch Market Amid Regulatory Issues</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Binance Announces Withdrawal from Dutch Market Amid Regulatory Issues

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