Crypto exchange Gemini to close its doors to Dutch customers

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Crypto exchange Gemini to close its doors to Dutch customers

The crypt exchange platform Gemini, established by the Winklevoss twins, has announced that it is shutting down operations in the Netherlands and warns its Dutch customers to withdraw their crypto assets by mid-November.

In a letter sent to Dutch users, Gemini said in a letter dated Sept. 26.

All accounts will be closed by Nov. 17, Gemini said, and Dutch customers will no longer have access to the platform.

If a Dutch customer fails to withdraw their money before the deadline, Gemini is also allowed to sell any remaining crypto assets on the open market at a price less than 5% below the Prevailing Market Price and return the proceeds to a bank account linked to your account, which is what it will do for Dutch customers who fail to withdraw their funds before the deadline.

Gemini is not yet closing its doors to Dutch customers, as it pointed out the possibility of reopening accounts in the future.

Binance, the world's largest crypto exchange platform by trading volume, announced in June that it is leaving the Dutch market and will no longer accept account openings for '' new users residing in the Netherlands '' because of its failure to get the all clear from the De Nederlandsche Bank.

Binance said at the time it was in talks with investors and that he would not change his position.