Binance to close all French accounts on 31 December 2026

Why Binance is leaving

MiCA (Markets in Crypto-Assets) is the EU regulation governing the sector. Since 1 July 2026, every platform must hold a licence from a member state's regulator to offer services in Europe. Binance, the world's largest crypto exchange, did not get one in time. Since 2 July, French customers have been unable to buy or sell crypto on the platform.

Monthly fees for latecomers

From 29 November, accounts that still hold crypto will be charged 0.025% of their balance, with a minimum of 10 USDC. In practice, almost everyone pays 10 dollars per charge, since a balance above 40,000 dollars is needed for the percentage to exceed the minimum. A first charge will occur within three days of 29 November, a second after 24 December 2026. Fees are taken first in USDC, then in other assets if needed.

Small balances are hit hardest: on 100 dollars, the first charge takes 10%. If a balance is below the fee, Binance will take the entire amount.

After 31 December, Binance will treat remaining accounts as "inactive" under its terms, which may lead to the conversion, transfer or other handling of the assets.

What users can do

Customers can move funds to another MiCA-licensed platform or to a self-custody wallet such as a hardware wallet. According to Binance, 70% of funds withdrawn by European clients went to self-custody wallets. Before transferring, double-check the destination address and network, start with a small test transfer, and download your transaction history for tax reporting.

Binance says it still intends to win a MiCA licence and return to Europe. In June, CEO Richard Teng said he was determined to obtain one "in the coming months."