Binance France will shut down all customer accounts by December 31, 2026, after the exchange's French entity failed to secure the licence required under the European Union's Markets in Crypto-Assets (MiCA) framework before the end of the transition period.

The wind-down plan was reported by Coin Bureau, which said Binance has notified customers that its French entity must wind down operations and close their accounts. Deposits have been restricted with immediate effect, though customers can continue withdrawing their cryptocurrency until the end of the year.

MiCA is the EU's harmonized licensing regime for crypto-asset service providers: once authorized in one member state, a firm can offer services across the bloc. Transition arrangements gave platforms already operating under national rules a limited window to obtain the new licence, and once that window closed, firms without authorization could no longer serve local customers. Binance's French entity fell on the wrong side of that deadline, which is why the wind-down is now underway.

November 29 Deadline Carries a Withdrawal Fee

An earlier cutoff of November 29 allows customers to withdraw their remaining cryptocurrency without incurring an additional monthly charge. Account holders who leave assets in place beyond that date will face a fee of 0.025% of their remaining crypto balance or 10 USDC, whichever amount is higher. Because the higher of the two amounts applies, smaller balances effectively carry a minimum monthly cost of 10 USDC.

The fee applies to customers who have not moved their assets out by the November 29 deadline. The notice gives account holders a window to transfer their funds before Binance completes the closure of its French customer accounts.

Final Closure Set for December 31, 2026

December 31, 2026 is the final closure date. Once accounts are closed, Binance may convert or transfer any cryptocurrency assets that remain in them, in accordance with the exchange's terms of service. In practical terms, that date is the last point at which customers can move their funds on their own terms.

The distinction between the two dates is significant for customers. November 29 is the deadline for avoiding the specified monthly fee, while December 31 marks the planned shutdown of all customer accounts in France.

Binance has confirmed that customer assets will remain accessible throughout the wind-down process. Customers can therefore continue withdrawing their cryptocurrency up to the year-end closure, even though deposits are already blocked.

MiCA Licence at the Center of the Wind-Down

The account closures follow the end of the EU's MiCA transition period. Binance's French entity did not obtain the required licence before that period expired, prompting the company to wind down its French customer accounts. The framework sets the licensing requirements that crypto-asset service providers must meet to operate in the European Union, and the case shows that authorization under MiCA now determines which platforms can continue serving customers inside the EU.

The development places the focus on that licensing regime. For Binance France customers, the immediate priority is the withdrawal schedule: November 29 to avoid the monthly fee, and December 31, 2026, when the accounts are scheduled to close.

According to Coin Bureau's report, Binance may handle any assets left after the final closure date through conversion or transfer under its terms of service. The exchange has stated that customer assets remain accessible during the wind-down.

Source: Hokanews