Binance France to close customer accounts on Dec. 31

Binance France has told customers it will close all accounts on Dec. 31, with fees starting earlier for users who leave crypto on the exchange. The notice, reported by Cryptoast from an email sent by Binance, says deposits are already blocked. Customers can still withdraw their funds, Binance told CoinDesk.

What happens to crypto left on the account?

From Nov. 29, Binance will charge a monthly maintenance fee equal to 0.025% of the remaining balance or 10 USDC, whichever is higher. According to CoinDesk’s report, which includes Binance’s account of the process, the first charge is due within three days of Nov. 29 and a second after Dec. 24. The fee will come from USDC first, then other crypto if needed; if the account holds less than the fee, Binance may take the full available balance.

Can customers still withdraw before closure?

Yes: Binance says customers can still withdraw crypto and fiat balances, although deposits are blocked. Binance described the restrictions as a gradual process following the end of the transition period under the EU’s Markets in Crypto-Assets regulation. The company has not obtained a MiCA authorization, which exchanges need to serve customers across the EU, and France’s AMF lists Binance France’s registration as lapsed on July 2.

What happens to assets after Dec. 31?

Binance says accounts will close on Dec. 31, 2026, and that crypto remaining at that point will be treated as inactive under its terms of use. The email says this may lead to the assets being converted, transferred or otherwise handled. The next date to watch is Nov. 29, when Binance says the first monthly fee calculation begins.

References

• Cryptoast from an email sent by Binance — cryptoast.fr
• CoinDesk’s report, which includes Binance’s account of the process — coindesk.com