Binance wants ‘fewer regulated EU entities,’ leaves Netherlands after Cyprus

Binance is winding down operations in multiple EU countries, which it says is a response to the bloc’s MiCA crypto regulations

article-image

Grey82/Shutterstock modified by Blockworks

share

Binance is exiting the Netherlands as it encountered challenges in registering as a virtual asset service provider in certain EU countries.

Despite efforts to comply with regulators and cater to Dutch clients, the crypto exchange couldn’t secure registration, a spokesperson told Blockworks.

Netherlands-based customers received an email on Friday stating that crypto deposits would be disabled starting next month. They were also advised against sending any cryptocurrencies to previously saved addresses. NFT trade and NFT staking will be blocked from Jul. 12.

Dutch users will only have the option to withdraw assets from the Binance platform after Jul. 17. Purchases, trades, and deposits will no longer be available, while open positions for various Binance products will be closed.

A Binance spokesperson said the recent development signifies that starting today, no new users residing in the Netherlands will be accepted, and added that the exchange will continue to work towards obtaining authorization to provide services in the country.

Meanwhile, Binance’s Cyprus unit applied to be removed from the country’s register of crypto asset service providers this week.

“We are working hard to prepare our business to be fully compliant with MiCA when it is implemented in the next 18 months. To that end, we have made the decision to pull back efforts in Cyprus to focus on our efforts on fewer regulated entities in the EU, especially our larger registered markets where we already have a mature footprint, including France, Italy and Spain,” a spokesperson said.

“Binance will continue to comply with applicable laws of the European Union.”

The EU Parliament’s approval of the Markets in Crypto Assets (MiCA) regulation is expected to broaden banking services available to crypto firms.

Binance withdrew from the Canadian market last month due to the introduction of new stablecoin guidance and investor limits imposed on crypto exchanges.

Meanwhile in the US, Binance, its CEO Changpeng Zhao and affiliates face sweeping lawsuits from both the Commodities Futures Trading Commission and the Securities and Exchange Commission.

Katherine Ross contributed reporting.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

The startup says it aims to rival Stripe and Worldpay by using stablecoins to speed merchant settlements from days to seconds

by Blockworks /
article-image

“S&P 500” for crypto comes as segment gains “established role in global markets,” S&P exec says

article-image

The S&P Digital Markets 50 Index combines 15 cryptocurrencies with 35 crypto-linked companies, offering investors hybrid exposure

by Blockworks /
article-image

Gnosis is betting that openness — not ownership — will define the future of onchain money

article-image

Crypto’s quest to imbue shareholder protections for tokens

article-image

Grass previously raised a seed and Series A rounds and plans to utilize the token purchase to execute on its roadmap