【Binance France to close accounts at year-end】
Binance France is closing accounts, but BNB has only fluctuated between 693–697 since 8 a.m. today. My take: this looks more like a notice for French users to move their assets, not bad news for BNB.
There are just 3 things you need to know:
1️⃣ Why accounts are closing: Binance France did not obtain a license before the end of the MiCA transition period, and its previous PSAN registration has also expired. Accounts with the French entity will close on December 31, and deposits have already been suspended.
2️⃣ What happens to the money: Starting November 29, accounts with remaining assets will be charged a monthly management fee of 0.025%, with a minimum of 10 USDC. Withdraw everything before the 29th and there’s no fee.
3️⃣ How big is the impact: This only affects the French entity, not all of Binance. Binance says it will apply for licenses in other EU countries.
Where I could be wrong: If other EU countries also start blocking licenses one after another, this won’t be an isolated incident. If BNB falls below 680, the low on the day it was hacked on October 29, I’ll turn bearish.
Who will be next to hit a roadblock under MiCA?
Sources: PANews, Cryptotimes, Binance data
#币安 #MiCA
📈 Top 3 contract gainers (20:58): $AIN +55.82%｜$LYN +52.17%｜$IDOL +38.83%
#BinanceSquare
⚠️ The above is a summary of information and personal opinions, not investment advice. DYOR.
Binance France is closing accounts, but BNB has only fluctuated between 693–697 since 8 a.m. today. My take: this looks more like a notice for French users to move their assets, not bad news for BNB.
There are just 3 things you need to know:
1️⃣ Why accounts are closing: Binance France did not obtain a license before the end of the MiCA transition period, and its previous PSAN registration has also expired. Accounts with the French entity will close on December 31, and deposits have already been suspended.
2️⃣ What happens to the money: Starting November 29, accounts with remaining assets will be charged a monthly management fee of 0.025%, with a minimum of 10 USDC. Withdraw everything before the 29th and there’s no fee.
3️⃣ How big is the impact: This only affects the French entity, not all of Binance. Binance says it will apply for licenses in other EU countries.
Where I could be wrong: If other EU countries also start blocking licenses one after another, this won’t be an isolated incident. If BNB falls below 680, the low on the day it was hacked on October 29, I’ll turn bearish.
Who will be next to hit a roadblock under MiCA?
Sources: PANews, Cryptotimes, Binance data
#币安 #MiCA
📈 Top 3 contract gainers (20:58): $AIN +55.82%｜$LYN +52.17%｜$IDOL +38.83%
#BinanceSquare
⚠️ The above is a summary of information and personal opinions, not investment advice. DYOR.
