Binance has informed its Dutch customers that they have until August 17 to withdraw their holdings after the crypto exchange failed to receive a license from the central bank of the Netherlands.

As a result, Dutch users can no longer trade crypto on the platform and must offload their bags within a month. Binance has signed an agreement with Dutch crypto platform Coinmerce to make the move easier.

The closure of Binance in the Netherlands comes amid increasing international scrutiny, with further regulatory action expected in the EU.