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Topic: Binance leaves Netherlands - page 2. (Read 252 times)

sr. member
Activity: 2380
Merit: 251
Eloncoin.org - Mars, here we come!
June 16, 2023, 02:47:54 PM
#8
Are such legislations applied according to the Dutch passport or according to the IP addresses?

If the regulations are similar to the implementation of my country which also prohibits Binance from operating, the restriction is only by filtering IPs. However, it is still possible for local users using binance to somehow be able to access the site without changing their original KYC identity.
If you use the Apps version, you can still access your account without problems.
You may access the platform until they seize your funds indefinitely and if you don't want to see that happen then stop bypassing the restrictions. The users will have certain time period to withdraw their funds from the platform and also they will give about the termination of service like notice via mail or even in the main page so it means they will have adequate time to take their money out.
legendary
Activity: 2044
Merit: 1018
June 16, 2023, 11:06:52 AM
#7
Geo-blocking IP address will be secondary just like it happened to the US Citizens on the main platforms
Geo-locations will be identified to block people from restricted countries or areas. It is easy to do by Binance and it's not strange, we have it on gambling sites too.

Quote
The only way of safely using Binance after the ban takes effect is probably moving to a country that is not banned, get their documents, and then registering and verifying a fresh account.
People can easy use VPN to surpass geo-location blocks but because Binance requires KYC, VPN can not help to solve the problems. Leaving to a new country to live just because you want to use Binance is unrealistic and you don't know what nations will be restricted by Binance in future.
legendary
Activity: 2100
Merit: 1208
Heisenberg
June 16, 2023, 09:55:22 AM
#6
Are such legislations applied according to the Dutch passport or according to the IP addresses? If the ban was according to the IP address, it is easy to claim to the support team that I have moved to another place, even if it was according to the passport, it does not seem logical.
The Dutch Passport or Government Issued ID will definitely be the first thing they look at since we know that almost all users on the platforms have to first KYC unlike back then when KYC verification was still relaxed. Geo-blocking IP address will be secondary just like it happened to the US Citizens on the main platforms

The only way of safely using Binance after the ban takes effect is probably moving to a country that is not banned, get their documents, and then registering and verifying a fresh account.
hero member
Activity: 2002
Merit: 633
Your keys, your responsibility
June 16, 2023, 09:46:02 AM
#5
Are such legislations applied according to the Dutch passport or according to the IP addresses?

If the regulations are similar to the implementation of my country which also prohibits Binance from operating, the restriction is only by filtering IPs. However, it is still possible for local users using binance to somehow be able to access the site without changing their original KYC identity.
If you use the Apps version, you can still access your account without problems.
hero member
Activity: 2954
Merit: 725
Top Crypto Casino
June 16, 2023, 09:03:53 AM
#4
Are such legislations applied according to the Dutch passport or according to the IP addresses? If the ban was according to the IP address, it is easy to claim to the support team that I have moved to another place, even if it was according to the passport, it does not seem logical.
Much likely through IP address. It's possible that you can reason that you've moved out of the Netherlands and you're not covered by their policy leaving the country but I guess you'll be subjected to another series of KYC to prove that.

Starting from Canada and now Netherlands it appears that before the end of the year we will have a list of countries where Binance has failed to comply with regulatory standards.
Yeah and there's still a hot issue that they're going on against the US' SEC.

The regulatory bodies are not letting Binance to continue providing their service in those countries. Although, Binance has been doing very well for the crypto users and specially the traders, but now the odds are against them and they might leave many other countries in fear of getting accused.
It's possible that they really can't meet what's being asked for the license/VASP. But one big reason is that it is, the regulators are being hard on them and won't allow to be on their jurisdictions operating with their own market. Hopefully, more reasons to come out coming from Binance themselves.
hero member
Activity: 784
Merit: 672
Top Crypto Casino
June 16, 2023, 08:28:02 AM
#3
After Binance failed to acquire virtual asset service provider (VASP) license that is needed to meet AML requirements, which resulted in Binance having to leave Netherlands market alltogether so from July 17th user from Netherland will be able to withdraw only and no new users will be accepted as of today.


Binance, the world’s largest cryptocurrency exchange, is leaving the Netherlands, after failing persuade the Dutch regulator to issue a virtual asset service provider (VASP) license, which attests that it meets anti-money laundering (AML) guidelines.

As of July 17, Dutch residents will only be able to withdraw their funds from the platform, according to a statement from the exchange.

“We regret to announce that Binance is leaving the Dutch market,” Binance said on its website. “This unfortunately means that no new users residing in the Netherlands will be accepted as of today. 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 be possible. We encourage those users to take appropriate action by withdrawing assets from their accounts.”

Binance said it has been in a comprehensive registration application process as a virtual asset service provider with the regulator. “Although Binance explored many alternative avenues to service Dutch residents in compliance with Dutch regulations, unfortunately this has not resulted in a VASP registration in the Netherlands at this time.”

The regulatory bodies are not letting Binance to continue providing their service in those countries. Although, Binance has been doing very well for the crypto users and specially the traders, but now the odds are against them and they might leave many other countries in fear of getting accused. After the allegations of Sec on Binance and its ceo CZ, the things are very totally blown up for them. I'm pretty sure that CZ is aware that he's being targeted this time very harshly and that's why he will exit his service from all those countries which are against Binance.

I'm very sure that the exchange will do its best to continue providing its services to international users and they won't exit the crypto-market like others. However, things will be tough for them in coming months and that's the reason due to which they are stopping their services in the countries which aren't favoring them to continue the services and they aren't even giving them the required licenses.
sr. member
Activity: 406
Merit: 443
June 16, 2023, 08:21:22 AM
#2
Are such legislations applied according to the Dutch passport or according to the IP addresses? If the ban was according to the IP address, it is easy to claim to the support team that I have moved to another place, even if it was according to the passport, it does not seem logical.

Starting from Canada and now Netherlands it appears that before the end of the year we will have a list of countries where Binance has failed to comply with regulatory standards.
legendary
Activity: 1722
Merit: 5937
June 16, 2023, 06:27:24 AM
#1
After Binance failed to acquire virtual asset service provider (VASP) license that is needed to meet AML requirements, which resulted in Binance having to leave Netherlands market alltogether so from July 17th user from Netherland will be able to withdraw only and no new users will be accepted as of today.


Binance, the world’s largest cryptocurrency exchange, is leaving the Netherlands, after failing persuade the Dutch regulator to issue a virtual asset service provider (VASP) license, which attests that it meets anti-money laundering (AML) guidelines.

As of July 17, Dutch residents will only be able to withdraw their funds from the platform, according to a statement from the exchange.

“We regret to announce that Binance is leaving the Dutch market,” Binance said on its website. “This unfortunately means that no new users residing in the Netherlands will be accepted as of today. 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 be possible. We encourage those users to take appropriate action by withdrawing assets from their accounts.”

Binance said it has been in a comprehensive registration application process as a virtual asset service provider with the regulator. “Although Binance explored many alternative avenues to service Dutch residents in compliance with Dutch regulations, unfortunately this has not resulted in a VASP registration in the Netherlands at this time.”
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