The transfer of customers to Coinmerce will be monitored by the Dutch Central Bank.
Binance is complying with the new MiCA regulations in the European Union.
Since the Dutch authority did not grant Binance a virtual asset service provider (VASP) license certifying that it complies with anti-money laundering (AML) requirements, the world’s biggest cryptocurrency exchange has decided to leave the country.
The exchange said in a statement that as on July 17, only Dutch citizens may make withdrawals. Following Binance Netherlands’ impending closure. Coinmerce will become the largest exchange in the Netherlands by absorbing thousands of customers, assets, and offerings from Binance Netherlands.
Smooth Transition
Binance customers may now easily and at no cost transfer their digital assets to Coinmerce, a cryptocurrency exchange that is known for its user-friendliness. The transfer of Binance customers to Coinmerce will be monitored by the Dutch Central Bank.
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