Binance Shuts Down in Germany, Italy, and the Netherlands

Binance Shuts Down in Germany, Italy and Netherlands

One could easily attain the top-notch, but the real strive starts after you reach the top upon maintaining the same top position. Likewise, the world’s largest cryptocurrency exchange, in terms of the market cap value, is striving extremely hard these days in order to keep up its position. The crypto regulations posed on numerous countries are cornering Binance to the maximum extent. And so a few European countries too now join the league against Binance.

Binance Decisions For Europe

Binance, is the world’s largest cryptocurrency exchange for sure needs no further introduction. It is still the crypto exchange with the highest trading volumes. Upon the ongoing hurdles put forth by various crypto-regulated countries on Binance, recent ties have hit them hard though.

Accordingly, a number of European countries that have regulated their crypto industry also start to eye on Binance. In spite of this, Binance declared itself that it would be closing down its attributes and futures products upon a few countries in Europe. These are Italy, Germany, and the Netherlands.

In addition, Binance declared officially that they are working hard in order to satisfy all the customers and partners, as the crypto industry goes towards constant evolution.

Besides, the CEO of Binance, Changpeng Zhao aka CZ mentions that the decision is already into action. Also, many users who belong to these countries were not able to open their accounts or use their assets. 

However, Binance says there will be a maximum period of 90 days within which the users belonging to these countries should withdraw and close their accounts themselves.

Allegations History On the Run

The list has only been increasing with every day passing by for all those Countries subject to Binance. Now, European countries, Italy, Germany, and the Netherlands join in too. 

Moreover, starting with the U.K, Japan, following Thailand’s SEC filing criminal charges, Cayman Islands, Singapore and now ending up with most European countries like Poland, Italy, Germany, and the Netherlands.

In addition to this, Binance is also getting cornered by Banks all over the world too and many banks based in the U.K have blocked Binance completely.

Besides, the CEO states Binance will get its registration everywhere possible, all over the world. Also, the CEO recently took to terms that a new CEO will soon be coming in for the firm.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.