Binance France will permanently close accounts tied to its French legal entity on December 31, 2026, after it failed to win authorization under the EU's MiCA framework. Deposits are already suspended, and management fees start on November 29.
Binance France will close accounts tied to its French legal entity on December 31, 2026. The closure follows its failure to obtain authorization under the Markets in Crypto-Assets framework, known as MiCA.
The exchange has already suspended fiat and cryptocurrency deposits for affected accounts. It missed the June 30 deadline to secure the required MiCA authorization.
The move covers accounts held with the French entity. It does not mean Binance is shutting down its entire global platform or every French user's account.
Fees come first, though. From November 29, Binance France will charge 0.025% of the account balance per month, with a minimum of 10 USDC, on accounts that still hold assets. The charge comes out of available USDC balances, and Binance can use other cryptocurrencies in the account if USDC runs short.
Binance has also outlined scheduled withdrawals: an initial one expected within three days of November 29, and another after December 24.
Users who do not withdraw by December 31 could see their remaining cryptocurrencies handled under Binance's Terms of Service. Depending on the circumstances, the assets may be converted, transferred or otherwise dealt with.
Source: Coinpedia Fintech News
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