{"id":340554,"date":"2023-07-06T21:10:39","date_gmt":"2023-07-06T20:10:39","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=340554"},"modified":"2023-07-06T23:13:00","modified_gmt":"2023-07-06T22:13:00","slug":"binance-urges-dutch-customers-to-move-assets-to-coinmerce-before-july-17-departure-from-the-netherlands","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/binance-urges-dutch-customers-to-move-assets-to-coinmerce-before-july-17-departure-from-the-netherlands\/","title":{"rendered":"Binance urges Dutch customers to move assets to Coinmerce before July 17 departure from the Netherlands"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/companies\/binance\/\">Binance<\/a> is shuttering operations in the Netherlands after failing to secure a virtual asset provider license from the Dutch central bank.<\/p>\n<p>As part of its exit, Binance has offered to move users' assets for free to rival crypto exchange Coinmerce, which has secured regulatory authorization to operate in the country.<\/p>\n<p>The exchange will cease all services for Netherlands-based users on July 17, 2023, and has urged them to move their assets before the deadline.<\/p>\n<h2>Referral Partnership<\/h2>\n<p>The referral partnership with Coinmerce is supervised and approved by De Nederlandsche Bank (DNB), according to the July 6 <a href=\"https:\/\/coinmerce.io\/en\/news\/binance-offers-dutch-users-switch-to-coinmerce\/\">press release<\/a>.<\/p>\n<p>Coinmerce CEO Jaap de Bruijn said:<\/p>\n<blockquote><p>&#8220;Our priority is to ensure an orderly transition. Urgent treatment of these users is necessary. The crypto assets of the Dutch users at Binance will be transferred to Coinmerce via a controlled transition.&#8221;<\/p><\/blockquote>\n<p>According to the release, users who wish to participate in the transfer will be sent an email detailing the next steps for a &#8220;simple and secure&#8221; transfer of their assets to Coinmerce.<\/p>\n<h2>Regulatory disapproval<\/h2>\n<p>Binance has faced increasing regulatory disapproval in recent weeks, especially in Europe, with the Dutch being the latest in a spate of rejections.<\/p>\n<p>Like the Netherlands, German regulators <a href=\"https:\/\/cryptoslate.com\/binance-loses-euro-payment-partner-denied-licensing-in-germany\/\">rejected<\/a> the exchange's application for a crypto custody license in late June. Binance said it will continue to engage with German authorities to find a solution.<\/p>\n<p>Meanwhile, the exchange pulled out completely from <a href=\"https:\/\/cryptoslate.com\/binance-reportedly-pulls-out-of-austria-shifts-focus-to-mica-compliance-in-europe\/\">Austria<\/a>, Belgium, and Cyprus for various reasons, including <a href=\"https:\/\/cryptoslate.com\/belgiums-chief-financial-regulator-orders-binance-to-cease-belgian-services\/\">regulatory pressure<\/a> and a lack of progress in securing licensing.<\/p>\n<p>The exchange told <em>CryptoSlate<\/em> at the time that it remains committed to the European markets but intends to shift its focus toward preparing for the upcoming Markets in Crypto Assets (MiCA) rules<\/p>\n<p>MiCA will start to come into force in the coming months and will establish a regulatory framework for the crypto industry in the European Economic Area.<\/p>\n<p>Neither Dutch authorities nor Binance had responded to requests for comment as of press time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance is shuttering operations in the Netherlands after failing to secure a virtual asset provider license from the Dutch central bank. As part of its exit, Binance has offered to move users&#8217; assets for free to rival crypto exchange Coinmerce, which has secured regulatory authorization to operate in the country. The exchange will cease all [&hellip;]<\/p>\n","protected":false},"author":1250,"featured_media":340570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance urges Dutch customers to move assets to Coinmerce before July 17 departure from the Netherlands<\/title>\n<meta name=\"description\" content=\"Binance is exiting the nation over regulatory difficulties and has urged users to move their assets before the deadline.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/binance-urges-dutch-customers-to-move-assets-to-coinmerce-before-july-17-departure-from-the-netherlands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance urges Dutch customers to move assets to Coinmerce before July 17 departure from the Netherlands\" \/>\n<meta property=\"og:description\" content=\"Binance is exiting the nation over regulatory difficulties and has urged users to move their assets before the deadline.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/binance-urges-dutch-customers-to-move-assets-to-coinmerce-before-july-17-departure-from-the-netherlands\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-06T20:10:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-06T22:13:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/07\/binance-netherland-1-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Assad Jafri\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Assad Jafri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/binance-urges-dutch-customers-to-move-assets-to-coinmerce-before-july-17-departure-from-the-netherlands\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/binance-urges-dutch-customers-to-move-assets-to-coinmerce-before-july-17-departure-from-the-netherlands\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/#person\",\"name\":\"Assad Jafri\",\"url\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/cs-syed.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/cs-syed.jpg\",\"caption\":\"Assad Jafri\"},\"jobTitle\":\"Former Editor & Reporter\",\"description\":\"AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. 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