Binance Leaves the Netherlands

Binance is leaving the jurisdiction of the Netherlands as the exchange is unable to obtain a virtual asset service provider (VASP) license from the local regulator.

From June 17, Dutch users were able to withdraw assets from the platform, with the function of exchange and deposits frozen.

Binance is exploring other ways to serve the Netherlands, although they have not resulted in VASP registration yet.

The exchange is now focusing on global MiCA European rules adopted on April 20, has licenses of several European countries, including France, Italy, Spain, Poland, Sweden and Lithuania, and previously delisted 12 privacy tokens across four EU countries.

Binance also withdrew its registration in Cyprus to focus on interacting with fewer regulators in Europe.

Recently, the SEC has filed a lawsuit against Binance and its CEO, Changpeng Zhao, bringing 13 charges, including the sale of unregistered securities.