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Binance France card: is it still available?
If you are wondering if the Binance card is still usable in France and what are the reasons for its possible unavailability, the short response is as follows: this payment means linked to cryptocurrency is no longer accessible to French and European residents. In this article, we will clearly explain why this service stops, what are the consequences and what alternatives exist for users who still want to use their money in daily cryptos.
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Context of the end of the Binance card in France
The Binance France card has long been a practical tool for those who wanted to spend their cryptocurrency crypto flow service . Launched in partnership with Visa, it made it possible to pay purchases in various businesses, to make withdrawals in euros and to benefit from a sometimes interesting cashback However, several events, including regulatory difficulties and the end of certain agreements with the issuers of bank card, have pushed the Centralized Exchange Binance to gradually close its payment program in the European Economic Area (EEE) . This closure therefore directly affects French users. Since December 20, 2023, the Binance card can no longer be used in the EU.
The official reason mentioned by Binance and its partners is due to the growing pressure of regulators , the evolution of European standards linked to cryptocurrencies, and at the end of specific partnerships with transmitters such as Visa or Mastercard . MiCA regulations , which are starting to impose new obligations on crypto service platforms in the European Union. All these factors lead the company to rethink its payment offers.
A major regulatory turn: why Binance abandons its card program?
To understand what is happening, you have to come back to Binance 's judicial setbacks . Exchange faces surveys and prosecution brought by several organizations, such as the SECRITIES and Exchange Commission ) and the CFTC (Commodity Futures Trading Commission) in the United States. Although these actions are mainly under the American jurisdiction, the European Union and other regulators closely monitor compliance with financial laws, consumer protection and transparency in transactions .
The situation was complicated when key partners, essential to the Binance map , ended their collaborations. Let us mention in particular Visa in the EEE zone. From the point of view of decentralized finance ( DeFi ) and blockchain , these withdrawals from historical actors clearly signal a regulatory milestone : compliance takes over the expansion.
Paysafe payment company , which managed part of the deposits and withdrawals for Binance , also withdrew, resulting in the suspension of bank transfers in Euro for a limited period. If Binance has since found a transient solution, this illustrates well the instability of the financial environment and the logistical challenges encountered by the platform. Consequently, the decision to put an end to the Binance card in the EEE appears as a preventive and final measure, supposed to reduce the risks for the company and its customers .
Dates to remember for the end of the Binance card
Beyond December 20, 2023, it is no longer possible to make payments or withdrawals with the Binance France card . The closure concerns:
- All EEA users, including France.
- Ukrainian refugee cards issued as part of the same program.
- Recurring services or monthly subscriptions associated with the card.
The objective is to put an end to the end of the current program linked to the Binance card in the European Union. The reasons invoked often exceed the simple frame of Binance to touch a set of requirements and pressures emanating from the financial authorities.
To the question "will we see a Binance in France in the future?" », There is no official and final response. Binance has not announced again to replace these cards in the EU. Rather, the company evokes a repositioning on its Binance Pay , which works more as an online or contactless payment service, possible among partner merchants accepting cryptocurrencies. However, this solution is not a real equivalent to the physical debit card: the flexibility of use differs and the advantages of a payment via card may lack certain users.
Consequences for French users
From a practical point of view, the disappearance of the card will pose several difficulties:
- More instant conversion costs crypto and euros at the time of payment.
- Impossible to benefit from cashbacks linked to the Binance .
- End of simplicity to set daily purchases in crypto without needing to convert beforehand.
- Obligation to find alternative solutions for those who appreciated the practicality of the card.
Why does regulation impact so much the Binance card in France?
The implementation and management of a crypto debit in a regulated framework such as the European Union require solid banking partners and great transparency. Regulators often require:
- A strict control of financial flows to avoid money laundering.
- A guarantee of consumer protection.
- The implementation of a legal framework for the management of crypto-active .
- The rigorous application of tax laws, especially when it comes to capital gains on cryptocurrencies.
Over time, the authorities have strengthened their surveillance, which forces centralized exchanges to adapt or suspend certain services deemed risky or not in accordance with. In the case of Binance , the pressure is all the stronger since the platform occupies a major place in the cryptocurrency market. Its volume of colossal transactions attracts not only the attention of investors, but also that of organizations responsible for enforcing financial laws, such as the AMF (Authority for Financial Markets) in France or ESMA ( European Securities and Markets Authority) on a European scale.
The shadow of MiCA and conformity
In this context, MiCA (Markets in Crypto-Assets) legislation, adopted by the European Union, constitutes another turning point. It requires a strict recording for service providers on digital assets (PSAN), as well as better transparency on reserves and user protection devices. Although MiCA has not yet fully entered into force, many platforms anticipate its requirements.
What difference with other Cryptos cards?
Binance competitors continue to offer cryptos cards in some EU countries. However, the solidity of these partnerships largely depends on the confidence that card issuers and local regulatory authorities grant them. Each company must find a balance between innovation and compliance. Some issuers simply considered that the risks of collaborating with Binance were too important, given the procedures in progress and legal uncertainties hovering around the platform. This does not mean that all cryptos cards disappear from the European market, but the offer is led to evolve quickly, and perhaps to become more selective.
What alternatives to the Binance card for users in France?
The end of the card does not imply a total impossibility of spending its crypto-active in France. Here are some alternative solutions :
- Binance Pay: Online and contactless payment technology to pay in crypto among merchants who accept it. Its main drawback is that compatible merchants must be found, which can limit its daily use.
- Other Exchanges: Some competitors from Binance still offer Crypto cards, but their availability varies depending on the region. Conditions (costs, limits, banking partners) are to be studied closely before registering for a new service. In France, the main existing ones are crypto.com, Coinbase , Ledger and Bitpanda.
- Crypto and footbridge portfolios Fiat: If you prefer to keep control of your private keys , you can use a Wallet and convert your cryptos to Euro via a specialized platform, then transfer these funds to your bank account. It takes more time than a card, but avoids dependence on a single supplier.
- Prepared card solutions: Some companies offer the possibility of recharging a prepaid card with cryptos converted to Euro. The conditions of use and the commissions differ according to the service provider.
Advantages and disadvantages of Binance Pay
Binance now guides its users to Binance Pay . Originally designed as a mobile payment solution and a digital asset transfer interface, this service operates on the principle of the “sen and receive” in cryptocurrencies. Here is what to remember:
- Benefits :
- No physical card to manage , so no re -engagement, no risk of loss of card.
- Possibility to use QR code technology to pay in crypto .
- Rapid transactions without banking intermediary.
- Potential compatibility with future services and merchants in France or internationally.
- Disadvantages:
- Few physical traders accept Binance Pay in France, which limits daily use.
- No real Binance card to present if you prefer the classic format.
- Less flexibility for online services that have not integrated the solution.
What about cashback programs and other advantages?
One of the major attractions of the Binance card cashback program based on the amount spent in crypto . If you had accumulated rewards, these remain credited to your account, even after stopping the service. However, you will no longer be able to generate new rewards via card payments. This is a brake for those who valued this “loyalty” aspect.
Binance Pay services could offer occasional promotions or loyalty programs, but nothing as systematic and automatic as the ex-debit card. The landscape of the Binance France map being about to disappear, you have to turn to other actors if the cashback is a decisive criterion for you.
Conclusion: the Binance France card, a service that disappears
To summarize, the Binance card is no longer available in France and, more broadly, in the EEA since December 20, 2023 . The definitive judgment of this program results from a set of factors, including increased regulatory pressure, the end of partnerships with major card issuers as a visa , as well as concerns related to compliance with financial legislation in Europe. This decision is part of a broader context of reorganization of Binance , which must adapt to the rules in force, while maintaining its rank as a main player in the crypto-active .
For users based in France, this development means a readjustment of their payment habits. If decentralized finance and blockchain continue their boom, the ease of paying daily purchases in crypto via a crypto flow is complicated. Of course, it is always possible to convert your funds to euros by other methods and to use solutions like Binance Pay . However, the loss of this service clearly illustrates that the rules of the game change in the sector.
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Yohan Uzzan
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
