Cryptocurrency portal Binance takes stock of exits from Netherlands, Canada – remains committed to EU presence

Cryptocurrency portal Binance takes stock of exits from Netherlands, Canada – remains committed to EU presence

Dubai: The cryptocurrency trading platform Binance insists it will stay invested in the EU markets – even after making an exit from the Netherlands. “Binance is already compliant with EU standards on the prevention of money laundering and financing of terrorism as evidenced by its registrations in other EU countries - France, Italy, Spain, Poland, Sweden and Lithuania,” said a statement issued by the company, which finds itself in the eye of a storm over regulator investigations at its US operations. “Binance continues to be committed to working collaboratively with regulators around the world and additionally focused on getting our business ready to be fully compliant with the new EU rules on crypto-assets (MiCAR).” The EU is bringing in more stringency over Bitcoin and other crypto-asset trades, setting up what is becoming a seminal phase for these virtual assets. In the US, the regulator, SEC, has investigations running on Coinbase as well as Binance.US. On the exit from the Netherlands, Binance said: “No new users residing in the Netherlands will be accepted. Starting from 17 July, 2023, existing Dutch resident users will only be able to withdraw their assets from the Binance platform. “No further purchases, trades or deposits will