Binance France is closing its operations in the country, with all user accounts scheduled for termination on Dec. 31. Customers were notified via email in early November regarding the shutdown, according to media reports citing the correspondence.
Fee structure for remaining assets
Any assets left on the exchange after Nov. 29 will incur monthly maintenance fees. Accounts maintaining a balance on that date will be charged 0.025% of the balance or a minimum of 10 USDC, a stablecoin tracking the US dollar, Cryptoast and Crypto Briefing reported Saturday.
To avoid these charges, withdrawals must be completed by Nov. 29, the exchange said in the notifications.
Regulatory context
A Binance spokesperson told Cointelegraph on Sunday that the company is progressively restricting certain services for affected users following the end of the Markets in Crypto-Assets (MiCA) transition period, in line with previously communicated schedules.
Cointelegraph reported in late June that Binance had notified European Union users that access to key services would be restricted after the exchange failed to secure MiCA regulatory authorization from a member state before a July 1 deadline.
When asked specifically about reports that similar emails had been sent to users in Spain and Belgium, the spokesperson did not mention them.
Media reports indicate Binance’s global client base includes at least 300 million customers, while the app was downloaded more than 4 million times in the EU last year.
