Coinmerce has also announced that all Binance users can transfer their digital assets to their platform free of charge.
The central bank of the Netherlands will oversee the entire onboarding process of these users to Coinmerce, ensuring that all interested users are guided through the process seamlessly, including the fund transfer procedure.
In response to this development, officials at Coinmerce have expressed their excitement and commitment to ensuring a smooth transition process. Co-founder of the company, Nick Smits van Oyen, stated:
“We are extremely proud of this collaboration with Binance. We provide users with a platform that complies with all the laws and regulations of the European Union. The transition process will be smooth, and with the guidance of Binance, we have made the conversion process as seamless as possible for our users.”
Binance has announced that it will cease its operations in the Netherlands on July 17th, after being unable to obtain a Virtual Asset Service Provider (VASP) license from the Dutch government.
In addition to the Netherlands, the world’s largest cryptocurrency exchange is facing legal issues in other countries, including Belgium, France, Australia, and the United States.