Binance To Exit Dutch Market
Binance Exits Dutch Market, Faces SEC Lawsuit; Set to Defend Vigorously.
June 16 - On Friday, Binance, a leading cryptocurrency exchange, announced it is exiting the Dutch market as it was unsuccessful in its attempt to register with the local regulator as a virtual asset service provider.
Starting July 17, Binance will only allow existing Dutch customers to withdraw their assets from the platform, ceasing all other activities such as purchases, trades or deposits.
Earlier this week, Binance's Cyprus subsidiary requested to be deregistered from Cyprus' list of crypto asset service providers.
The Dutch regulatory authority hasn't yet responded to Reuters' request for comment.
Just last week, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance, its founder Changpeng Zhao, and the operator of its supposedly independent U.S. exchange. Binance has declared its intention to strongly contest the SEC's allegations.
