Gemini Exchange Withdraws From Netherlands Over Regulatory Roadblocks

😨Crypto Giants Dutch Exit 😱

Sep 29, 2023

Gemini, a big cryptocurrency player, is leaving the Netherlands, and it's not by choice. They're doing this because the Dutch central bank, De Nederlandsche Bank (DNB), set some tough rules they can't meet. This might sound familiar because Binance, another crypto giant, did the same not too long ago. These big crypto names are struggling with the extra attention and strict rules from European authorities.

But here's the twist: Gemini isn't saying farewell forever. They're planning a comeback once they play by the new rules from the European Union called the Markets in Crypto-Assets (MiCA) framework. MiCA aims to make rules the same for everyone. So, Gemini is just taking a break until they get the green light. But, it's a bumpy ride as these exchanges try to understand the complex rules in Europe. The Netherlands' strict way of applying these rules made two big exchanges quit. And that's causing concerns about limiting competition and new ideas in the crypto world.

If you want all the details and a closer look at the changes in the cryptocurrency world in Europe, check out Coinpedia's article below.

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