Binance France to close accounts Dec. 31, start asset fees Nov. 29
Binance's French entity will close customer accounts after missing MiCA authorization, and balances left after Nov. 29 face a monthly fee, outlets report.
Binance France will close its customer accounts on December 31, 2026, after failing to obtain authorization under the EU's Markets in Crypto-Assets (MiCA) framework. Wu Blockchain, citing a report from Cryptoast, said deposits have already been suspended. The Cryptonomist reported that customers received email notices in early November.
The closures apply to accounts held with the Binance France entity. Both Wu Blockchain and The Cryptonomist stressed that this does not mean Binance's global platform is closing all French users' accounts.
Fee starts before the shutdown date
Wu Blockchain, citing Cryptoast's reading of a Binance customer email, said accounts still holding assets will be charged a monthly management fee of 0.025% from November 29. The minimum charge is 10 USDC. The Cryptonomist gave the same terms and said the percentage applies to the account balance.
According to The Cryptonomist, the fee will be taken in USDC or in another asset left in the account, depending on what the customer holds after the cutoff. It added that withdrawing before November 29 avoids the charge. The two dates serve different purposes: November 29 starts the fees, and December 31 is when accounts close.
Wu Blockchain said crypto assets not withdrawn by December 31 may be converted, transferred or otherwise handled under Binance's Terms of Service. None of the reports in this summary spell out what that handling would involve in practice.
How the MiCA gap developed
The Cryptonomist traced the closure to the lapse of Binance France SAS's earlier registration as a Digital Asset Service Provider, known in France as PSAN. Its MiCA application had not been approved by the July 1, 2026 transition deadline, the outlet said. France's market regulator, the AMF, removed the firm from its PSAN list on July 2.
The Cryptonomist also said regulators, including the AMF and ESMA, the EU securities markets authority, required an orderly wind-down under MiCA guidelines. Spot trading and related products for French residents were discontinued in stages earlier in the year, according to the same report. That leaves the service in a withdrawal-only state.
The accounts differ slightly. Unfolded described Binance as having been ordered to cease operations in France for lacking MiCA authorization. Wu Blockchain and The Cryptonomist framed it as a failure to obtain authorization followed by a wind-down. Unfolded's brief item did not say which authority issued the order.
What to watch
The first fixed date is November 29, when the monthly fee begins on balances still held. The second is December 31, when Binance France accounts are scheduled to close.
What happens to balances left after December 31 remains unresolved in the available reporting. The sources only say such assets may be converted, transferred or handled under the Terms of Service. They also don't say whether Binance France plans to seek MiCA authorization again.
Sources
- Binance France to Close Customer Accounts on December 31, Introduce Monthly Fees From November 29 Wu Blockchain
- Binance will close all French user accounts on 31 December 2026 after being ordered to cease operations in the country for lacking MiCA authorization — link Unfolded
- Binance France account closure: 0.025% monthly fee on assets left Nov. 29 The Cryptonomist
Written with AI assistance from the sources above and checked against them. Not investment advice.