Binance Strikes Deal with Coinmerce for Asset Transfer
Binance has partnered with Coinmerce in the Netherlands to allow its clients to transfer their assets. This comes after Binance failed to secure a virtual asset provider license from the Dutch central bank. As a result, Binance is shutting down its operations in the Dutch market on July 17. In order to assist its clients, Binance has agreed with Coinmerce to enable hundreds of thousands of Dutch crypto users to transfer their assets for free. Coinmerce has obtained regulatory approval in the country and this referral will make it the largest crypto firm in the Netherlands. The priority is to ensure an orderly transition and users will receive step-by-step guidelines on how to conduct the transfer.
Main Points:
– Binance clients in the Netherlands can transfer their assets through Coinmerce for free.
– Binance is shutting down its operations in the Dutch market due to the failure to secure a license.
– Coinmerce has already obtained regulatory approval in the country and will become the largest crypto firm in the Netherlands.
– Users will receive step-by-step guidelines on how to conduct the transfer.
– Binance is focusing on preparing for the forthcoming Markets in Crypto Assets (MiCA) standards.
Hot Take:
Binance’s partnership with Coinmerce to facilitate asset transfers for its clients in the Netherlands shows their commitment to ensuring a smooth transition. By allowing users to transfer their assets for free through a trusted platform like Coinmerce, Binance is prioritizing the needs of its clients. This move also highlights the increasing regulatory challenges faced by crypto exchanges, with Binance facing backlash in various European countries. However, by shifting its focus towards preparing for regulatory standards, Binance is positioning itself for long-term success in the European crypto ecosystem.
By
By
By
By