TLDR
- Binance will close some European accounts on Dec. 31, 2026.
- Monthly fees of 0.025% or 10 USDC start Nov. 29.
- Deposits are blocked, but withdrawals remain open.
- Accounts emptied before Nov. 29 will not be charged.
- Binance has not yet won a MiCA license.
Binance has started telling some European customers to withdraw their crypto before fees begin on Nov. 29. Accounts that still hold assets will close on Dec. 31, 2026.
⚠️ ALERT: Binance France to close ALL customer accounts by December 31 as the EU’s MiCA licensing requirement forces a wind-down.
The world’s largest crypto exchange told customers its French entity must close their accounts as the EU’s MiCA transition period ended before it… pic.twitter.com/zXvUzOdoqa
— Coin Bureau (@coinbureau) November 7, 2026
A Binance spokesperson told CoinDesk the exchange is “progressively restricting certain services for affected users.” The company called the shutdown “a carefully managed process.”
Users in France, Spain, Italy and Poland have shared similar emails on X. Deposits are blocked, but withdrawals of crypto and fiat remain open.
How the Fees Work
From Nov. 29, Binance will charge 0.025% of the remaining balance each month, or 10 USDC, whichever is higher. The first charge will be taken within three days of that date.
A second charge is due after Dec. 24. Fees come out of USDC holdings first, then other crypto if needed.
The 10 USDC minimum means the flat fee applies to balances under about $40,000. A small account could lose 20 USDC across the two charges.
Accounts with less than the fee owed will have the entire balance taken. Accounts emptied before the Nov. 29 calculation day will not be charged.
Binance’s terms say it may charge a dormant account fee to cover the cost of maintaining digital assets. CoinDesk noted the fee email itself has not been confirmed.
Binance says assets left after Dec. 31 will be treated as inactive. That may lead to them being converted or transferred.
Why the Accounts Are Closing
The closures follow the end of the transition period under the EU’s Markets in Crypto-Assets rules, known as MiCA. The rules became mandatory for crypto providers on June 30, 2026.
MiCA requires exchanges to win authorization in one member state to serve customers across the bloc. Binance withdrew its Greek license application in June and said it would seek approval elsewhere.
Binance has not named that country, and it does not appear in the European Securities and Markets Authority’s register of authorized crypto providers. The company says its “commitment to Europe remains unchanged” and that it is “actively progressing our authorization pathway.”
France’s financial regulator lists Binance France’s registration, held since May 2022, as lapsed on July 2. More than 50 providers without a MiCA license were removed that day.
Users in France and several other EU countries lost spot, margin and futures trading from July 1 but kept withdrawal rights. About 2 million French customers were estimated to be affected.
Portuguese newspaper Expresso reported that users in countries without a local Binance entity, such as Portugal, have not been singled out. They remain subject to the broader EU restrictions.
TRM Labs found that only 281 of 1,343 crypto providers secured authorization, according to Bitcoin.com News. Bitcoin.com News also reported that Binance disclosed a $6.3 billion hack on Oct. 29.
Users pulled a net 25,793 bitcoin, worth $3.6 billion, between Nov. 1 and Nov. 2. That was the biggest two-day net outflow in 12 months.
The fees start on Nov. 29, leaving French users about three weeks to withdraw.
