Binance leaving Dutch Market

[Dave1]

So Binance is leaving the Dutch market as well,

Notice on Changes of Services in the Netherlands
2023-06-16 16:40
Fellow Binancians,

We regret to announce that Binance is leaving the Dutch market. With immediate effect, no new users residing in the Netherlands will be accepted. Starting from 2023-07-17 at 00:00 UTC (2023-07-17 at 02:00 UTC+2), existing Dutch resident users will only be able to withdraw assets from the Binance platform. No further purchases, trades or deposits will be possible. We encourage users to take appropriate action by withdrawing assets from their Binance accounts.

Binance has been in a comprehensive registration application process as a virtual asset service provider (VASP) with the Dutch regulator. Although we explored many alternative avenues to service Dutch residents in compliance with Dutch regulations, unfortunately this has not resulted in a VASP registration in the Netherlands at this time. Binance will continue striving to obtain authorizations to provide our products and services to users in the Netherlands.

https://www.binance.com/en/support/announcement/notice-on-changes-of-services-in-the-netherlands-b5a647be31cf469b87fc3337fd461ced?

So after Canada, and most likely USA, the next country that Binance will have to leave is the Dutch market.

Not sure how big Dutch market is, but it seems to be the same problem with the regulators in that country. So it's sad for our Dutch users of Binance, but their government has made it hard for Binance to register it's services.

[Charles-Tim]

Similar topic has been posted some hours ago before yours: Binance leaves Netherlands

You can lock this thread.

[Drawesome]

Am I wrong or Binance has left some market before and after fit some regulation they came back?

[Kryptowerk]

Am I wrong or Binance has left some market before and after fit some regulation they came back?

I think there is a good chance they will try and find solutions to offer their services. However it all boils down to how much licenses costs and if it is worthwile for a tiny market such as the Dutch market.

They discontinued their support for privacy coins in some EU countries, including Italy, France, Germany and Netherlands - This could be a step towards fully leaving these markets, too.

[Kemarit]

Am I wrong or Binance has left some market before and after fit some regulation they came back?

Well if they can comply then for sure they can make a comeback in any market. But looking at the reasoning of Binance on them leaving, it seems that they and the Dutch regulators have some issues that they can't settle.

So the best thing for them is to really left and go somewhere else. They try to stay on their grounds, unfortunately, if the government is somewhat keen on their hard line stance against Binance or crypto in general then they can't do anything about it.

[royalfestus]

Binance continues to maintain its existence through a provision for P2P withdrawals, ensuring compliance with local laws and regulations without requiring official approval from certain countries. Despite reports of Binance being banned in Canada and Nigeria, users from these regions can still engage in third-party withdrawals via the P2P feature. To verify the availability of this service with your preferred currency, you can visit the following link: https://binance.com/en/fiat/withdraw/. Additionally, traders have the option to utilize the P2P feature on Binance for direct selling to other interested buyers. For more information, you can visit: https://p2p.binance.com/en.