The cryptocurrency exchange Binance has begun notifying some of its European users that they must withdraw their funds by the end of 2026. Customers in France, Spain, Italy and Poland are receiving letters regarding the forthcoming closure of their accounts due to new EU regulatory requirements. From 29 November, a monthly fee for holding cryptocurrency balances will be introduced for accounts affected by the restrictions, and these accounts are due to be closed on 31 December. The reason for the changes is the end of the transition period for the European MiCA regulation, under which cryptocurrency platforms must obtain special authorisation to operate in the EU market.
- Binance will close some of its European accounts from 31 December 2026.
- Users in France, Spain, Italy and Poland are receiving the notifications.
- From 29 November, a monthly fee will be charged on cryptocurrency balances.
- The minimum payment will be 10 USDC or 0.025 per cent of the balance.
Binance has warned its European customers about the closure of their accounts
Users of a cryptocurrency exchange in several European Union countries have begun receiving emails instructing them to withdraw their digital assets and fiat funds. The messages state that the relevant accounts will be closed on 31 December 2026.
According to CoinDesk, similar warnings have been sent to customers in France, Spain, Italy and Poland. For accounts subject to these restrictions, new deposits have already been blocked, although withdrawals of cryptocurrency and fiat currency remain available.
Representative Binance confirmed that the platform is gradually restricting certain services following the end of the MiCA regulatory transition period. The company emphasises that clients’ assets remain accessible and that the closure process will take place gradually.
However, the decision does not mean that all Binance accounts in the European Union will be automatically closed. The restrictions apply to users who have received the relevant notifications.
From 29 November, Binance will start charging a commission
The nearest deadline for customers affected by the changes is 29 November. From that date, Binance plans to apply a monthly fee to cryptocurrency held in the relevant accounts.
The payment will amount to 0.025 per cent of the balance, or at least 10 USDC. The exchange will apply the higher of these two amounts.
For example, with a balance of 1,000 USDC, a transaction fee of 0.025 per cent would amount to just 0.25 USDC, so the minimum payment of 10 USDC will in fact apply.
The first debit is expected within three days of 29 November, and the next one after 24 December. If there are insufficient funds in the account to cover the payment, the exchange may debit the entire balance.
According to CoinDesk, these terms are set out in letters to customers. However, the full text of the relevant notice has not been independently verified by the publication.
Why is Binance restricting its operations in the European Union?
The changes were prompted by the introduction of the Markets in Crypto-Assets Regulation, known as MiCA. It establishes common rules governing the operations of cryptocurrency companies within the European Union and requires them to obtain authorisation in order to provide the relevant services.
Binance previously operated in certain European countries on the basis of national registrations. In particular, the company’s French entity had been registered since May 2022, but on 2 July 2026 its registration automatically expired following the conclusion of the relevant national transitional period.
In June, Binance withdrew its application for a MiCA licence in Greece and announced its intention to undergo the authorisation process in another EU country. At the time of publication by CoinDesk, the company was not listed in the European Securities and Markets Authority’s (ESMA) register of authorised crypto-service providers.
Binance states that it is not abandoning the European market and is continuing to work towards obtaining the necessary authorisation.
What will happen to cryptocurrency after 31 December?
Once accounts have been closed, any digital assets remaining in them may be classified as inactive. According to the terms described by CoinDesk, this allows for the subsequent conversion or transfer of the assets.
The company has not disclosed exactly how many customers are affected by the restrictions or how much money remains in their accounts.
Users who have received the relevant warnings should check the deadlines in the official app or their Binance account dashboard. It is dangerous to click on links in unverified emails, as scammers may use messages about account restrictions.
