Crypto News: Binance France Closure and MEXC US Crackdown

The latest crypto market snapshot showed Bitcoin down 5.16% at $74,666.48. Monero fell 1.54% to $598.46, while BNB declined 0.33% to $684.05. Other notable losses included Stellar at $0.1460, down 1.75%; Solana at $86.31, down 3.35%; and Hyperliquid at $74.33, down 3.86%.

Binance France is winding down its operations in the country, according to emails reviewed by Cryptoast, Crypto Briefing and other outlets. Customer accounts are scheduled to close on Dec. 31. Starting Nov. 29, users who leave a balance on the exchange will be charged a monthly maintenance fee of 0.025% or at least 10 USDC, meaning crypto withdrawals must be completed before that date to avoid charges.

The US Treasury also sanctioned eight Canadian money-service businesses accused of exchanging Iranian rials and other currencies for digital assets. According to the Treasury, the companies facilitated transactions involving sanctioned Iranian crypto exchanges and digital wallet addresses linked to Iran’s Islamic Revolutionary Guard Corps. The sanctions effectively isolate the businesses from the US dollar-based financial system.

In a separate enforcement action, the Treasury’s Financial Crimes Enforcement Network ordered MEXC Global cut off from the US financial system. FinCEN alleges that the exchange handled at least $16 billion in transactions connected to sanctions evasion, cybercrime and other illicit activity between May 2021 and May 2026, including roughly $1.5 billion linked to Russian sanctions evasion.