Binance Ends Operations in France with Deadline for Asset Withdrawals

Binance has begun the process of shutting down its operations in France. Customers received email notifications throughout November informing them that their accounts will be permanently closed on December 31.

Starting November 29, the exchange will charge a monthly maintenance fee on balances left on the platform. The cost is set at 0.025% of the total balance with a minimum charge of 10 USDC.

The company recommends that users withdraw their digital assets before the November deadline to avoid these charges. After the closure in December, accounts with remaining balances will be considered inactive according to the platform's terms of use.

This procedure may result in the conversion or transfer of assets that are not withdrawn by their owners. The measure comes as the exchange adapts to the European Markets in Crypto-Assets regulation, known as MiCA.

Reports show that users in other European countries such as Spain and Poland have also received similar notifications regarding service restrictions. Binance states that it is progressively restricting access to certain features to comply with the regulatory schedule established after the end of the MiCA transition period.