Users of Binance France receive notification of account termination by year's end
The cryptocurrency exchange will implement monthly charges on remaining funds beginning Nov. 29, according to company communications.
The cryptocurrency exchange Binance France has announced it will cease operations within the country. Email notifications were distributed to account holders in early November, as reported by various media outlets.
The platform will terminate all user accounts effective Dec. 31, with any digital assets remaining on the platform subject to recurring monthly charges commencing Nov. 29, as reported by Cryptoast, Crypto Briefing and additional news sources on Saturday, referencing correspondence delivered to customers by Binance.
Starting from that specified date, any account that continues to hold a balance will incur a monthly service charge calculated at 0.025% of the total balance, with a floor amount set at 10 USDC, a digital currency pegged to the United States dollar.
The platform advised that users must complete all withdrawal transactions by Nov. 29 to circumvent these charges.
An email communication from Binance referenced by Cryptoast stated:
"Due to the orderly cessation of activities, your Binance France account will close as of December 31, 2026. If you have not withdrawn your crypto-assets as of December 31, 2026, this message constitutes a notification of our intention to consider your account inactive, in accordance with our Terms of Use. This can result in the conversion, transfer or other processing of your crypto-assets."
Key services restricted in June
In late June, Cointelegraph published a report indicating that Binance had informed users throughout the European Union that their access to essential platform services would face limitations following the company's inability to obtain Markets in Crypto-Assets (MiCA) regulatory approval from any member nation prior to the July 1 deadline.
When contacted by Cointelegraph for comment on Sunday, a representative from Binance stated,
"Following the end of the MiCA transition period, Binance is progressively restricting certain services for affected users, in line with the schedule previously communicated to them."
Despite being specifically questioned regarding reports that comparable email notifications had been dispatched to customers in Spain and Belgium, the company representative did not address those countries in their response.
Based on various media sources, Binance's worldwide customer base encompasses a minimum of 300 million registered users, with the mobile application recording over 4 million downloads within European Union territories during the previous year.
(Helen Partz contributed to this report.)