Binance France is winding down its operations within the country. Client notifications were dispatched via email at the beginning of November, based on press reports.
All profiles will shut down on December 31, and remaining funds kept on the platform will incur monthly charges beginning November 29, as outlets like Cryptoast and Crypto Briefing indicated on Saturday, referencing notices distributed to clients by Binance.
Starting on that day, profiles keeping a remaining balance will be assessed a monthly maintenance charge amounting to 0.025% of that balance, subject to a floor of 10 USDC, a stablecoin pegged to the United States dollar.
To bypass these charges, cashouts must be finalized prior to November 29, according to the platform.
An electronic mail from Binance highlighted 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 If you have not withdrawn your crypto-assets as of December 31, 2026, this message constitutes a notification of our intention to consider your account inactive, in accordance with our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
Related: Binance’s EU services face scrutiny over licensing exemption: Report
Cointelegraph shared in late June that Binance had informed European Union customers that availability to primary features would be limited after the platform did not obtain Markets in Crypto-Assets regulatory clearance from a member nation ahead of a July 1 deadline.
On Sunday, a representative for Binance replied to an inquiry from Cointelegraph, noting, “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.”
Although directly questioned regarding accounts indicating that comparable emails had likewise been delivered to individuals in Spain and Belgium, the representative omitted any reference to them.
Based on press coverage, the worldwide user directory of Binance totals a minimum of 300 million users, whereas the application was downloaded in excess of 4 million times throughout the EU during the previous year.
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(Helen Partz contributed to this report.)
Originally published at https://cointelegraph.com/news/binance-france-emails-announce-closure-of-its-users-accounts-on-dec-31?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
