Bitpanda Crypto Exchange to Withdraw From Netherlands

The company said it is committed to complying with the regulatory landscape.

AccessTimeIconJan 30, 2024 at 12:24 p.m. UTC
Updated Mar 8, 2024 at 8:40 p.m. UTC
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Crypto exchange Bitpanda will "off-board" Dutch residents from its platform to comply with regulations in the Netherlands, the company said in an email Tuesday.

"We do not currently hold a crypto asset services provider registration in the Netherlands or have any intention of applying for one in the near future," a spokesperson for the Vienna-based company said in an email. "We're currently focused on our core markets ... The Netherlands is currently not one of our core markets." The company has licenses in Austria, Bulgaria, France and elsewhere.

The Netherlands is a member of the European Union, which comprises 27 nations. The trading bloc last year passed its wide-ranging Markets in Crypto Asset legislation (MiCA) that allows companies to apply for a license in one EU country and then work across the EU. MiCA will not be in full effect until December this year.

Update(Jan. 30 17:10 UTC): Adds company statement in second paragraph, December date for MiCA implementation in third.

Edited by Sheldon Reback.


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Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

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