Key Takeaways
- Binance France told users their accounts close Dec. 31 after the exchange failed to win a MiCA license.
- From Nov. 29, Binance France will charge 0.025% of balances or 10 USDC per month, whichever is higher.
- About 2 million French users lost trading on July 1, and assets left after Dec. 31 may be converted.
A Countdown for French Users
French media reported on Nov. 6 that Binance had started emailing Binance France customers to say deposits were no longer possible and that every account held with the French entity would be closed as of Dec. 31, 2026. The email read as follows:
Due to the orderly cessation of activities, your Binance France account will be closed as of December 31, 2026. If you have not withdrawn your crypto assets by December 31, 2026, this message constitutes notice of our intention to consider your account inactive.
The Binance France team added that the new directive “may result in the conversion, transfer or other handling” of assets under its terms of use.
The Fees Kick In First
Starting Nov. 29, any Binance France account that is still open will pay a monthly management fee of 0.025% of the balance or 10 USDC, whichever is higher. The first charge lands within three days of Nov. 29 and a second is expected after Dec. 24.
Because of the 10 USDC minimum, anyone holding less than about $40,000 pays the flat fee. A small account could lose 20 USDC across the two charges. The fees come out of USDC first and then out of other crypto held in the account. If the balance is smaller than the fee, Binance takes whatever is left.
The fees can be avoided, however, as accounts that withdraw everything before the Nov. 29 “calculation day” will not be charged.
How Binance Lost France
The shutdown traces back to the European Union’s Markets in Crypto-Assets (MiCA) regulation, which became mandatory for crypto service providers on June 30, 2026. Binance withdrew its Greek license application in June, then announced it would limit EU services from July 1.
When the deadline passed, users in France and several other EU countries lost spot, margin and futures trading but kept the right to withdraw. It is estimated that roughly 2 million French customers were affected, with licensed rivals such as Coinbase and OKX quickly launching campaigns aimed at Binance users.
Lastly, Bitcoin.com News reported that TRM Labs found only 281 of 1,343 crypto service providers secured authorization, a cull in which MiCA purged 80% of European firms.
Bad Timing After the Hack
The email comes at a time when Binance is dealing with the fallout from the $6.3 billion hack it disclosed on Oct. 29. When withdrawals reopened, users pulled 25,793 bitcoin (worth $3.6B) net between Nov. 1 and Nov. 2. That was the biggest two-day net outflow in 12 months.
For the remaining Binance France customers, the closing notice adds another reason to move funds. Most will likely withdraw to self-custody wallets or to MiCA-licensed exchanges before the fees begin.
The bigger question is whether Binance ever returns to the EU through a license elsewhere in the bloc. That debate is still live, with France already pushing its own positions in the MiCA review. For now, French users have just over three weeks to move their funds before the fees start.
