Binance Closing Accounts In Four EU Countries

Binance will close customer accounts in France, Spain, Italy, and Poland on December 31, and begin charging a monthly fee on leftover balances from November 29, due to lacking a license under the EU's MiCA rules. Binance had urged users in these countries to withdraw their assets in June. The exchange will charge 0.025% of remaining crypto balances each month, or 10 USDC, whichever is higher. What This Means: The closure of accounts may benefit rivals such as Coinbase and Kraken, which already hold MiCA licenses.