⚠️ All Binance France accounts will be closed on December 31; fees on idle assets begin November 29!
📌 Key information (according to reports by Cryptoast and Bitcoin.com):
🔻 Reason: Failed to obtain an EU MiCA license by June 30; its French operations will be “orderly terminated”
🔻 Deposits are already disabled; withdrawals are the only option
🔻 Starting November 29: A monthly fee of 0.025% of the balance, with a minimum of 10 USDC
🔻 Assets remaining after December 31: Accounts will be considered inactive, and assets may be converted, transferred, or otherwise handled
🔻 Around 2 million French users are affected
💡 My take:
At 0.025%, your balance would need to reach 40,000 USDC for the fee to exceed the 10 USDC minimum, so smaller accounts effectively pay a flat 10 USDC per month. More concerning, forced conversion could trigger a taxable event—and you don’t get to choose when it happens.
Note: This only affects accounts with the Binance France entity, not Binance users worldwide.
👉 If you’re in France, withdraw your crypto to a self-custody wallet or another compliant platform as soon as possible. Don’t leave it until the final week.
Do you think MiCA licensing will become a watershed moment for European exchanges? Share your thoughts in the comments 👇
$BNB $BTC $USDC
#币安 #MiCA #CryptoRegulation
Personal opinion only; not investment advice
📌 Key information (according to reports by Cryptoast and Bitcoin.com):
🔻 Reason: Failed to obtain an EU MiCA license by June 30; its French operations will be “orderly terminated”
🔻 Deposits are already disabled; withdrawals are the only option
🔻 Starting November 29: A monthly fee of 0.025% of the balance, with a minimum of 10 USDC
🔻 Assets remaining after December 31: Accounts will be considered inactive, and assets may be converted, transferred, or otherwise handled
🔻 Around 2 million French users are affected
💡 My take:
At 0.025%, your balance would need to reach 40,000 USDC for the fee to exceed the 10 USDC minimum, so smaller accounts effectively pay a flat 10 USDC per month. More concerning, forced conversion could trigger a taxable event—and you don’t get to choose when it happens.
Note: This only affects accounts with the Binance France entity, not Binance users worldwide.
👉 If you’re in France, withdraw your crypto to a self-custody wallet or another compliant platform as soon as possible. Don’t leave it until the final week.
Do you think MiCA licensing will become a watershed moment for European exchanges? Share your thoughts in the comments 👇
$BNB $BTC $USDC
#币安 #MiCA #CryptoRegulation
Personal opinion only; not investment advice
