Any assets left on the exchange will be charged monthly fees starting on Nov. 29, company says.

Binance France is closing up shop in the country. Customers have been notified by email during early November, according to media reports.

All accounts will be closed on Dec. 31, and any assets left on the exchange will be charged monthly fees starting on Nov. 29, Cryptoast, Crypto Briefing and other media reported on Saturday, citing emails sent to users by Binance.

On that date, accounts still maintaining a balance will pay a monthly maintenance fee of 0.025% of the balance, or a minimum of 10 USDC, a stablecoin tracking the US dollar.

To avoid fees, withdrawals must be completed by Nov. 29, the exchange said.

Cointelegraph reported in late June that Binance had notified European Union users access to key services would be restricted after the exchange failed to secure Markets in Crypto-Assets (MiCA) regulatory authorization from a member state before a July 1 deadline.

On Sunday, a Binance spokesperson responded to a Cointelegraph query, saying, “Following the end of the MiCA transition period, Binance is progressively restricting certain services for affected users, in line with the schedule previously communicated to them.”

Though asked specifically about reports similar emails had also been sent to users in Spain and Belgium, the spokesperson made no mention of them.

According to media reports, Binance’s global client base counts at least 300 million customers, while the app was downloaded more than 4 million times in the EU last year.

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