Source publication: November 7, 2026, at 17:17 UTC+8. This roundup reflects the developments and regulatory status reported at that time.
A November 7 PANews digest reported a planned closure of Binance France accounts, Chinese enforcement action involving a Solana event in Shanghai, and proposed restrictions on virtual-asset business names in Hong Kong. It also covered Russian retail-access rules and two separate US regulatory processes.
France: Binance account closure scheduled for December 31
According to the digest, Binance announced that it would close Binance France user accounts and cease operations in France on December 31, 2026, because it had not obtained authorization under the EU’s Markets in Crypto-Assets Regulation, or MiCA. Deposits were already unavailable at the time of publication.
The reported withdrawal and fee timetable was:
- From November 29, accounts retaining assets would face a monthly management fee of 0.025%, with a minimum charge of 10 USDC.
- The first deduction would occur within three days after November 29, and the second after December 24. Fees would be deducted from USDC first.
- Accounts that withdrew all assets before November 29 would incur no fee.
- Assets not withdrawn after December 31 could be treated as belonging to inactive accounts and could be converted, transferred or otherwise handled.
Mainland China: authorities halt Shanghai Solana event
Citing Financial News, PANews reported that an official from relevant departments of the People’s Bank of China said authorities had stopped “Solana Accelerate China 2026” before it opened in Shanghai.
The official said Solana had used a domestic entity to place virtual-currency promotional advertising on the exterior of the Citigroup Tower in Lujiazui. The central bank acted with local financial-management, public-security and market-regulation authorities and said the entities and individuals involved would be investigated.
The official characterized SOL as a virtual currency and noted that Solana provides technical services for the issuance and trading of assets including USDT. According to the official, promoting Solana violated a notice issued by eight departments in February 2026.
In a related statement, a central-bank official said future investigations would focus on domestic virtual-currency dealers and domestic entities linked to overseas virtual-currency issuance and trading platforms. The official argued that virtual currencies could not effectively meet customer-identification and anti-money-laundering requirements at that stage and were prone to speculative activity.
Hong Kong: naming restrictions remain a legislative proposal
Hong Kong’s Securities and Futures Commission published consultation conclusions proposing amendments to the Securities and Futures Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.
The proposed restrictions would address names that could mislead the public into believing an unauthorized business was regulated by the SFC or connected to an exchange, clearing house or virtual-asset trading platform.
Terms identified included “crypto,” “cryptocurrency,” “digital asset,” “token,” “virtual asset,” “exchange” and “trading platform.” The SFC clarified that the restrictions concerned combinations and similar expressions: using an individual word would not necessarily be restricted.
The amendments were expected to go to the Legislative Council after drafting was finalized. If passed, the provisions would take effect six months after enactment; the digest did not describe them as already effective.
Russia: retail-access directive due November 17
Citing TASS, the digest reported that Russia’s central bank had identified bitcoin, ether and USDT as cryptocurrencies that could be made available to non-qualified investors.
The relevant directive was scheduled to take effect on November 17, 2026, when exchanges would be able to admit those assets to public circulation.
United States: retirement-plan rule awaits final review
Bloomberg reported that the US Department of Labor had submitted a final version of a rule to the White House Office of Information and Regulatory Affairs for final review. It could allow 401(k) retirement plans to include alternative assets such as cryptocurrencies and private equity.
Developed under Executive Order 14330, signed by President Donald Trump in 2025, the rule would establish a process-based safe harbor for fiduciaries of plans governed by ERISA. Fiduciaries following procedures to assess performance, fees, liquidity, valuation, benchmarks and complexity would be presumed to have met their duty of prudence.
The rule was not yet effective. Individual plans would still decide whether to include such assets. The digest put the US 401(k) market at approximately $10 trillion.
United States: agencies move to withdraw transfer-threshold proposal
According to a FinCEN announcement cited by PANews, FinCEN and the Federal Reserve Board would jointly withdraw a proposal originally published on October 27, 2020.
That proposal would have lowered the cross-border transfer threshold for recordkeeping and Travel Rule requirements from $3,000 to $250. It also sought to clarify coverage of domestic and cross-border transactions involving convertible virtual currencies and digital assets with legal-tender status.
The agencies said they would take no further action on the proposal. The withdrawal notice was scheduled for publication in the Federal Register on November 9, 2026, leaving the existing $3,000 threshold unchanged.