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Bitpanda Crypto Exchange to Withdraw From Netherlands

Camomile Shumba
Updated ·1-min read

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.

Read more: Netherlands Will Take Tough Line Enforcing MiCA, Dutch Regulator Says

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