Came across this on CoinDesk: It’s not just France—users in Spain, Italy, and Poland have also said they received emails from Binance about account closures. A Binance spokesperson confirmed to CoinDesk that, following the end of the MiCA transition period, the company is gradually restricting some services for affected users. Affected accounts will be closed on December 31; deposits have already been suspended, but crypto and fiat withdrawals are still available. The spokesperson stressed that this is “not a sudden freeze.”
These countries are all places where Binance previously had locally licensed entities, and users there were first notified back in June. Portugal, which has no local entity, has not been similarly singled out so far, though it remains subject to EU-wide restrictions.
The timeline is the same as the one previously announced for France: Starting November 29, accounts still holding assets will be charged a monthly management fee of 0.025% of their balance (minimum 10 USDC). The first fee will be deducted within three days of November 29, with another deduction after December 24. If the balance is insufficient to cover the fee, the entire amount may be taken. Assets not withdrawn by year-end may be converted or transferred under the terms and conditions. Fees will be deducted from USDC first, then from other coins if needed.
Binance is still not listed in the European Securities and Markets Authority’s (ESMA) register of authorized entities. In June, it withdrew its MiCA application in Greece, saying at the time that it would apply again in another member state. It also said it was “confident it would obtain a license in the coming months.” The spokesperson added this time that its commitment to Europe remains unchanged and that the authorization process is still underway.
#Binance #MiCA #EURegulation
These countries are all places where Binance previously had locally licensed entities, and users there were first notified back in June. Portugal, which has no local entity, has not been similarly singled out so far, though it remains subject to EU-wide restrictions.
The timeline is the same as the one previously announced for France: Starting November 29, accounts still holding assets will be charged a monthly management fee of 0.025% of their balance (minimum 10 USDC). The first fee will be deducted within three days of November 29, with another deduction after December 24. If the balance is insufficient to cover the fee, the entire amount may be taken. Assets not withdrawn by year-end may be converted or transferred under the terms and conditions. Fees will be deducted from USDC first, then from other coins if needed.
Binance is still not listed in the European Securities and Markets Authority’s (ESMA) register of authorized entities. In June, it withdrew its MiCA application in Greece, saying at the time that it would apply again in another member state. It also said it was “confident it would obtain a license in the coming months.” The spokesperson added this time that its commitment to Europe remains unchanged and that the authorization process is still underway.
#Binance #MiCA #EURegulation
