Binance will close user accounts in four EU countries by the end of the year

Binance, the world’s largest cryptocurrency exchange, is discontinuing service for some of its customers in France, Spain, Italy, and Poland due to the lack of the necessary authorization to operate under European Union regulations.

Users have been notified that they must withdraw their crypto assets and close their accounts by December 31. Following the end of the transition period under the MiCA regulation, the exchange will gradually restrict services for these customers.

Starting November 29, Binance will begin charging a monthly asset custody fee of 0.025% of the cryptocurrency balance or 10 USDC, whichever is greater. These charges will also apply after December 24.

Binance’s registration in France expired on July 2. The company had previously withdrawn its application for a MiCA license in Greece but states that it is continuing the process of obtaining authorization in another EU country.

Source: CoinDesk

The U.S. FBI stated that the North Korean hacking group TraderTraitor was behind a large-scale cyberattack on the Binance cryptocurrency exchange, during which assets worth more than $6 billion were stolen. 

The cryptocurrency exchange Binance announced that it will resume withdrawals for customers on Sunday after covering approximately $6 billion of the $6.3 billion in tokens stolen during the cyberattack.

North Korea has rejected the U.S. Federal Bureau of Investigation’s claim that North Korean hackers were involved in the theft of $6 billion from the Binance cryptocurrency platform.