Binance Has Set Up A Local Company Branch In Netherlands
A spokesperson from the crypto exchange mentioned that this is marked a “pivot in our ongoing collaboration” with the DNB. The spokesperson has stated that the exchange has set up a local company branch which is called the Binance Netherland BV.
Furthermore, the spokesperson mentioned,
With this now behind us, we can continue pursuing a more traditional operating model in the Netherlands. The DNB said it has not yet approved Binance’s registration but it had lessened the fine it had originally intended by 5% because the company has “been relatively transparent about its operations throughout the process.
Binance Nederland BV was established in October according to Dutch Chamber of Commerce filings. Binance Nederland BV has been owned by Binance Holding Ltd of Ireland since December of 2021.
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Featured image from NDTV.com, chart from TradingView.com