Binance France to close customer accounts on December 31 after MiCA failure
French users face account closures by the end of the year and monthly holding fees starting November 29 after the entity failed to secure EU regulatory approval.
Key takeaways
- 1Binance France will close customer accounts on December 31, 2026.
- 2Accounts holding funds past November 29 face a monthly fee of 0.025 percent, with a 10 USDC minimum.
- 3The closure follows a failure to obtain authorization under the EU's MiCA framework.
Binance France will shut down customer accounts on December 31, 2026, after failing to secure regulatory authorization under the European Union's Markets in Crypto-Assets framework, French media outlet Cryptoast reported.
Deposits on the platform have already been suspended, according to a Binance customer email cited in the report. Accounts that still hold assets after November 29 will incur a monthly management fee of 0.025 percent, with a minimum charge of 10 USDC. Assets remaining in Binance France accounts after December 31 may be converted or transferred under the exchange's terms of service. The closures apply specifically to accounts registered under the Binance France entity.
Binance is the world's largest cryptocurrency exchange by trading volume. The closure follows recent operational difficulties for the broader exchange, including a $6.4 billion security exploit that froze roughly $971 million in USDT on the platform earlier in November, according to earlier reporting by YourKhabri.
The move shows the regulatory pressure facing international exchange subsidiaries as EU member states enforce MiCA standards. French customers must move their holdings before the end-of-year deadline to avoid recurring account maintenance fees and potential automated conversions.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.