BNB, a cryptocurrency exchange, announced on Friday that it was leaving the Dutch market because it was unable to register with the regulator as a virtual asset service provider.
Binance leaving the Dutch market
Starting July 17, existing Dutch users will only be able to withdraw assets from the BNB platform, according to the company. There will be no more purchases, trades, or deposits.
BNB’s Cyprus unit filed an application to be removed from Cyprus’ register of crypto asset service providers on Wednesday. The Dutch regulator did not immediately respond to a request for comment from media.
The Securities and Exchange Commission (SEC) of the United States (US) sued Binance, its founder Changpeng Zhao, and the operator of its ostensibly independent US exchange last week. BNB has stated that it will “vigorously” defend itself against the SEC’s charges.
To read our blog on “Binance’s US branch rejects 1000s of dollars’ new deposits,” click here
