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<ul>
 <li><strong>Binance France is reportedly closing affected customer accounts by December 31, 2026, following the EU’s MiCA transition.</strong></li>
 <li><strong>Cryptocurrency left after November 29 could incur a monthly charge of 0.025%, subject to a 10 USDC minimum.</strong></li>
 <li><strong>Customers can withdraw eligible assets, although locked products and network compatibility require additional attention.</strong></li>
</ul>
<p>Binance France is preparing to close affected customer accounts by December 31 after failing to secure authorization under the European Union’s Markets in Crypto-Assets (MiCA) framework, according to customer notices circulated this week.</p>
<p>Deposits have reportedly been disabled, <strong><a href="https://ethnews.com/binance-expands-crypto-withdrawals-across-nine-networks/" rel="noopener noreferrer nofollow">while withdrawals</a></strong> remain available. The immediate concern is a November 29 deadline that could make retaining even small cryptocurrency balances expensive.</p>
<p>The closure schedule and maintenance fees were described in <strong><a href="https://cryptoast.fr/binance-annonce-cloture-comptes-utilisateurs-francais-31-decembre/?utm_source=x&amp;utm_medium=social" rel="noopener noreferrer nofollow">customer communications reported on November 7</a></strong>. They have not been independently verified through a publicly accessible Binance corporate announcement.</p>
<p>The development follows the expiration of France’s transitional licensing regime in July and concerns accounts held through affected European entities, not Binance’s global exchange.</p>
<h2 id="november-29-fee-could-consume-small-crypto-balances">November 29 Fee Could Consume Small Crypto Balances</h2>
<p>The reported maintenance charge is calculated at 0.025% of remaining cryptocurrency holdings per month, with a minimum deduction of 10 USDC.</p>
<p>Two deductions are reportedly scheduled: the first within three days after November 29 and another after December 24. Available USDC would be used first, followed by other cryptocurrency balances where necessary.</p>
<p>The minimum creates a disproportionate cost for smaller accounts. The percentage-based fee does not exceed 10 USDC until holdings reach approximately $40,000.</p>
<div style="max-width: 100%; margin: 22px 0; font-family: Arial,Helvetica,sans-serif; color: #243247;">
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   <div style="font-size: 11px; font-weight: bold; letter-spacing: .6px; text-transform: uppercase; color: #bfd0e0;">
    Original fee calculation
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   <div style="font-size: 18px; font-weight: bold; margin-top: 5px;">
    How the Minimum Charge Affects Users
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   <div style="font-size: 12px; color: #d6e1eb; margin-top: 5px;">
    One scheduled deduction · USDC-equivalent balances
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  <div style="width: 100%; overflow-x: auto; -webkit-overflow-scrolling: touch;">
   <table style="width: 100%; min-width: 320px; border-collapse: collapse; font-size: 12px;">
    <thead>
     <tr style="background: #edf3f8; color: #43556b;">
      <th style="padding: 12px 9px; text-align: left; border-bottom: 1px solid #dce4ed;" scope="col">Balance</th>
      <th style="padding: 12px 9px; text-align: right; border-bottom: 1px solid #dce4ed;" scope="col">Fee</th>
      <th style="padding: 12px 9px; text-align: right; border-bottom: 1px solid #dce4ed;" scope="col">Effective rate</th>
     </tr>
    </thead>
    <tbody>
     <tr style="background: #fff;">
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; font-weight: bold;">$50</td>
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; text-align: right;">$10</td>
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; text-align: right; color: #b84836; font-weight: bold;">20.00%</td>
     </tr>
     <tr style="background: #f7f9fc;">
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; font-weight: bold;">$500</td>
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; text-align: right;">$10</td>
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; text-align: right; color: #b84836; font-weight: bold;">2.00%</td>
     </tr>
     <tr style="background: #fff;">
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; font-weight: bold;">$5,000</td>
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; text-align: right;">$10</td>
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; text-align: right; font-weight: 600;">0.20%</td>
     </tr>
     <tr style="background: #f7f9fc;">
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; font-weight: bold;">$40,000</td>
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; text-align: right;">$10</td>
      <td style="padding: 12px 9px; border-bottom: 1px solid #e8edf2; text-align: right; font-weight: 600;">0.025%</td>
     </tr>
     <tr style="background: #fff;">
      <td style="padding: 12px 9px; font-weight: bold;">$100,000</td>
      <td style="padding: 12px 9px; text-align: right;">$25</td>
      <td style="padding: 12px 9px; text-align: right; font-weight: 600;">0.025%</td>
     </tr>
    </tbody>
   </table>
  </div>
  <div style="padding: 11px 14px; background: #eef6f5; color: #286d66; font-size: 12px; line-height: 1.6; border-top: 1px solid #dce4ed;"><strong>$40,000 threshold:</strong> Below this amount, the minimum charge exceeds the percentage-based calculation.
  </div>
  <div style="padding: 10px 14px; background: #fafbfd; border-top: 1px solid #e7edf2; font-size: 11px; color: #718094; line-height: 1.6;">
   Source: Original calculations using the fee terms reported in Binance customer notices. Figures are illustrative, not observed account deductions.
  </div>
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</div>
<p>The implications are particularly significant for customers who leave small residual holdings after transferring their main balances.</p>
<p>An account containing $50 could lose 40% of its initial value across two minimum deductions, assuming the reported schedule applies and no other balance changes occur.</p>
<p>The notices also indicate that accounts with insufficient assets to cover a charge may have their remaining balances deducted.</p>
<h2 id="how-customers-can-move-their-cryptocurrency">How Customers Can Move Their Cryptocurrency</h2>
<p><strong><a href="https://www.binance.com/en/support/faq/detail/115003670492" rel="noopener noreferrer nofollow">Binance’s official withdrawal instructions</a></strong> explain how users can transfer cryptocurrency to an external wallet or another exchange.</p>
<p>On the mobile application, the process begins under Assets → Overview → Send → Withdraw Asset.</p>
<p>Users must select the cryptocurrency, enter the destination address, choose a compatible blockchain network and review the withdrawal fee before confirming.</p>
<p>Three practical considerations matter during the wind-down:</p>
<p>Network compatibility. The receiving wallet or exchange must support the exact asset and blockchain network selected on Binance. An unsupported network can result in permanent loss.</p>
<p>Receiving-platform eligibility. Customers seeking another regulated trading venue can consider the European operations of Coinbase, Kraken or OKX, subject to account eligibility, asset availability and supported deposit networks. Their authorization status can be checked through the <strong><a href="https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica" rel="noopener noreferrer nofollow">ESMA MiCA register.</a></strong></p>
<p>Residual balances. Withdrawal minimums and network fees may make small holdings expensive to move. Customers should review the amount they will actually receive before confirming a transfer.</p>
<p>For supported assets, networks such as Arbitrum, Polygon and Solana may offer lower costs than Ethereum mainnet. Customers should compare the actual fee quoted by Binance with the destination’s deposit requirements.</p>
<p>Self-custody is another option for users who do not need immediate trading access, although it requires secure management of private keys and recovery phrases.</p>
<h2 id="what-happens-to-locked-binance-earn-holdings">What Happens to Locked Binance Earn Holdings?</h2>
<p>Assets committed to staking or yield products may require redemption before they can be withdrawn.</p>
<p><strong><a href="https://www.binance.com/en-AU/support/faq/detail/af607a50de614350ae57be3e6f616699/" rel="noopener noreferrer nofollow">Binance’s official Simple Earn guidance</a></strong>explains that eligible locked positions can be redeemed before maturity, generally at the cost of forfeiting accrued rewards.</p>
<p>Customers should first review each position’s redemption conditions and expected release date.</p>
<p>For eligible Simple Earn Locked Products, users can access the relevant holding through their Earn Wallet and select the available early-redemption option.</p>
<p>Other staking arrangements may involve blockchain-level unbonding periods, meaning assets cannot necessarily be released immediately.</p>
<p>Customers whose positions mature after the reported account-closure deadline should check whether early redemption is supported and contact Binance support for written instructions if their holdings cannot be released in time.</p>
<h2 id="france-s-regulator-confirms-the-mica-licensing-requirement">France’s Regulator Confirms the MiCA Licensing Requirement</h2>
<p>The regulatory basis for the wind-down is established in the AMF’s July 6 announcement.</p>
<p>France’s financial regulator confirmed that its transitional regime ended on July 1 and that, from July 2, providers generally needed the appropriate MiCA authorization to continue offering regulated crypto-asset services.</p>
<p>The AMF also said it would scrutinize orderly wind-down plans from providers that had not obtained authorization, prioritizing customer protection.</p>
<p>Binance France’s previous national registration did not automatically confer MiCA authorization. Binance had pursued a licensing application in Greece but withdrew it in June.</p>
<p>The regulatory restrictions concern the ability of affected legal entities to continue providing services, rather than establishing that Binance’s global exchange is shutting down.</p>
<p>The AMF has also warned that authorized providers receiving customers from winding-down platforms must perform applicable anti-money-laundering checks.</p>
<p>Transfers to a new exchange may therefore require additional identity or source-of-funds verification.</p>
<h2 id="what-happens-after-december-31">What Happens After December 31?</h2>
<p>The reported customer notices state that accounts retaining assets after the closure date may be classified as inactive.</p>
<p>Under applicable contractual terms, remaining cryptocurrency could be converted, transferred or otherwise processed.</p>
<p>Customers who want to retain particular assets should verify the account-specific arrangements rather than assume that their existing wallet interface will remain available indefinitely.</p>
<p>Binance has said affected customers’ assets remain accessible during the wind-down. Users should nevertheless review their individual notices, resolve locked positions and preserve transaction records before their account arrangements end.</p>
<p>For customers facing the reported deadlines, the priority is to complete supported withdrawals without unnecessary charges or forced changes to their remaining holdings.</p>
<p>The post <a href="https://ethnews.com/binance-france-to-close-accounts-as-mica-deadline-hits/" rel="noopener noreferrer nofollow">Binance France to Close Accounts as MiCA Deadline Hits</a> appeared first on <a href="https://ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

Binance France to Close Accounts as MiCA Deadline Hits

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