Binance France just put a hard deadline on every local account: closed Dec 31 — and fees start Nov 29.
After missing EU MiCA authorization, the French entity emailed users that deposits are blocked and only withdrawals remain. If crypto is still sitting there on Nov 29, a monthly fee hits: 0.025% of the balance or 10 USDC, whichever is higher. Two charges are expected before year-end. Empty the account before Nov 29 and you pay nothing.
Why the 10 USDC floor matters:
- Below ~$40K in value, almost everyone pays the flat 10 USDC per charge, not the percentage
- Fee takes USDC first, then other assets; tiny balances can be wiped
- Assets left after Dec 31 may be treated as inactive and converted or moved
My take: this is an orderly wind-down, not a rug. But the calendar is tight — Nov 29 is three weeks away. Anyone still holding on the French entity is paying for inertia, not for trading access they already lost.
Are you treating Nov 29 as a hard exit date, or waiting until closer to Dec 31?
$BNB $BTC
#BinanceSquare #Binance #MiCA #CryptoRegulation #France
Not financial advice.
After missing EU MiCA authorization, the French entity emailed users that deposits are blocked and only withdrawals remain. If crypto is still sitting there on Nov 29, a monthly fee hits: 0.025% of the balance or 10 USDC, whichever is higher. Two charges are expected before year-end. Empty the account before Nov 29 and you pay nothing.
Why the 10 USDC floor matters:
- Below ~$40K in value, almost everyone pays the flat 10 USDC per charge, not the percentage
- Fee takes USDC first, then other assets; tiny balances can be wiped
- Assets left after Dec 31 may be treated as inactive and converted or moved
My take: this is an orderly wind-down, not a rug. But the calendar is tight — Nov 29 is three weeks away. Anyone still holding on the French entity is paying for inertia, not for trading access they already lost.
Are you treating Nov 29 as a hard exit date, or waiting until closer to Dec 31?
$BNB $BTC
#BinanceSquare #Binance #MiCA #CryptoRegulation #France
Not financial advice.