Binance has told users in several European countries to withdraw their crypto before monthly fees begin on November 29, with their accounts set to close on December 31, 2026. The move follows the exchange’s failure to secure a license under the European Union’s Markets in Crypto-Assets (MiCA) rules.
Summary
- Binance has emailed users in France, Spain, Italy and Poland telling them to withdraw their crypto and fiat balances before their accounts close on December 31, 2026.
- From November 29, accounts that still hold assets will be charged a monthly fee of 0.025% of the balance or 10 USDC, whichever is higher.
- Deposits are already blocked, but customers can still withdraw. Binance says user assets remain safe and accessible.
- The exchange still has no MiCA authorization, which it needs to serve customers anywhere in the EU.
Accounts close on December 31 after fees start November 29
Binance laid out the deadlines in an email sent to customers in France, Spain, Italy and Poland, and users on X have shared the notices they received. Deposits have been blocked, but customers can still withdraw their crypto and fiat balances, a Binance spokesperson told CoinDesk.
“Affected accounts will be closed with effect from 31 December 2026,” the spokesperson said, describing the process as “a carefully managed process.” The exchange said it is “progressively restricting certain services for affected users” following the end of the transition period under MiCA.
Starting November 29, Binance will charge users 0.025% of their remaining crypto balance each month, or 10 USDC, whichever is higher. The first charge will be taken within three days of November 29, and a second charge after December 24. Accounts holding less than the fee will have their entire balance taken, according to the emails sent to users. Fees will be deducted from USDC holdings first, then other crypto assets if needed.
Accounts emptied before November 29 will pay nothing. Binance said it will treat accounts with crypto remaining after December 31 as inactive, which may result in the assets being converted or transferred under its terms of use.
Binance still has no MiCA license
MiCA requires crypto exchanges to secure authorization in an EU member state to serve customers across the bloc. The transition period ended on June 30, 2026, and Binance withdrew its application for a Greek MiCA license in June, saying it planned to seek approval in another EU member state, which it has yet to name. It still does not appear in the European Securities and Markets Authority’s register of authorized crypto providers.
France’s financial regulator, the Autorité des marchés financiers (AMF), lists Binance France’s registration, held since May 2022, as having lapsed automatically on July 2. That was when France’s national registration regime ended and more than 50 providers without a MiCA license, including Gemini’s European unit, were removed.
Binance first contacted users in France, Spain, Italy and Poland in June, urging them to withdraw. Those are the countries where it ran locally registered businesses before the MiCA transition period ended. Users in countries where Binance had no local entity, including Portugal, have not been singled out in the same way, though they remain subject to the broader EU restrictions, according to Portuguese newspaper Expresso.
About 2 million French users lost trading on July 1, when Binance suspended spot, margin and futures trading for EU users while keeping withdrawals open, Bitcoin.com News reported. Rival exchanges Coinbase, Kraken and OKX all hold MiCA authorization, from Luxembourg, Ireland and Malta respectively, and can continue serving customers across the bloc.
Binance says commitment to Europe is unchanged
“Our commitment to Europe remains unchanged, and we are actively progressing our authorization pathway,” the Binance spokesperson said. “We are confident we will secure a license in the coming months,” the exchange said when it withdrew its Greek application in June.
The closure notice applies to accounts held with Binance’s French entity and other affected local entities. It is not a shutdown of Binance’s global platform, and customers can voluntarily close their accounts and withdraw their assets before the final deadline.
