Binance Sets Dec. 31 Account Closures for Some EU Users as MiCA Exit Deepens
Binance is preparing to close accounts held by customers in several European countries by December 31, with the exchange introducing monthly charges on remaining cryptocurrency balances from November 29. The latest notices move the platform’s MiCA-related restrictions beyond suspended deposits and registrations, giving affected customers a deadline to withdraw their assets before their accounts are closed.
A Binance spokesperson confirmed that the exchange is progressively restricting certain services following the end of the European Union’s Markets in Crypto-Assets Regulation (MiCA) transition period. Affected accounts will close from December 31, 2026, in what the company described as a carefully managed process.
The exchange said deposits have been blocked, but customers can still withdraw cryptocurrency and fiat balances. Binance also said customer assets remain safe and accessible, with no sudden freeze imposed on affected accounts.
Which Binance Users Are Facing Account Closures?
Customers in France, Spain, Italy and Poland have reported receiving account-closure emails. These are countries where Binance previously operated locally registered businesses before the MiCA transitional period expired.
The latest restrictions build on communications Binance sent in June, when it first warned affected European customers to withdraw their holdings following its unsuccessful licensing process in Greece. The exchange subsequently stopped accepting new EU registrations and restricted services for customers in several markets.
However, the latest account-closure process does not appear to cover every European customer. Users in countries such as Portugal, where Binance did not previously operate through a local entity, have not been singled out in the same way, although they remain subject to the wider MiCA restrictions.
The distinction matters because Binance’s European regulatory position is not uniform across the bloc. The exchange has been restricting EU services since failing to secure a MiCA licence before the July 1 deadline, but the consequences for existing customers depend on their jurisdiction and account arrangements.
Investor Takeaway
The closures represent a further contraction of Binance’s European retail business, although the current notices do not establish a blanket withdrawal from every EU market.
How Much Will Binance Charge Customers Before Closing Accounts?
According to the emails shared by affected customers, Binance will begin charging a monthly fee on remaining cryptocurrency balances on November 29. The charge is set at 0.025% of the remaining balance or 10 USDC, whichever is higher.
The first deduction will take place within three days of November 29, followed by a second charge after December 24. Binance will deduct the fees from USDC holdings first and use other cryptocurrencies if the available USDC balance is insufficient.
The 10 USDC minimum means that accounts holding less than approximately 40,000 USDC would face the flat minimum rather than the percentage-based charge. If an account contains less than the applicable fee, the email states that Binance may deduct the entire remaining balance.
Customers who still hold cryptocurrency after December 31 will have their accounts treated as inactive. The emails warn that remaining assets may subsequently be converted, transferred or otherwise handled under Binance’s terms of use.
The exact fee schedule has not been independently confirmed in a public Binance announcement. However, the exchange’s published terms already contain provisions allowing it to impose monthly dormant-account fees and, under specified circumstances, convert or transfer assets held in inactive accounts.
Investor Takeaway
The minimum charge disproportionately affects smaller balances, while the possibility of further asset conversion or transfer makes the December 31 deadline particularly important for affected customers.
Why Did Binance Lose Its European Regulatory Route?
MiCA requires crypto-asset service providers to obtain authorization in an EU member state to operate across the bloc through the regulation’s passporting framework. The transitional arrangements for existing providers ended on July 1, 2026, leaving firms without authorization unable to rely on their previous national registrations.
Binance withdrew its application to the Hellenic Capital Market Commission in Greece on June 24, after months of discussions without a formal decision. The exchange said it would pursue authorization in another member state, but has not publicly identified its alternative regulatory jurisdiction.
France’s Autorité des marchés financiers automatically removed Binance France SAS from its national crypto-asset service provider register on July 2. The company had originally obtained registration in May 2022, but the national registration framework ended when the MiCA transition period expired. The removal was therefore automatic rather than a separate enforcement sanction.
Binance has maintained that its European ambitions remain unchanged. In July, co-CEO Richard Teng said the exchange was in close discussions with regulators in other jurisdictions and continued working toward authorization. The company has also reiterated its intention to secure a MiCA licence through another European regulator.
Can Binance Continue Serving European Customers?
The exchange’s licensing difficulties extend beyond the immediate account closures. European regulators have also examined whether Binance can continue serving certain customers through MiCA’s reverse-solicitation exemption, which allows an overseas provider to offer services when an EU customer independently approaches it on their own exclusive initiative.
That exemption is narrow and cannot be used as a general substitute for authorization or as a means of actively targeting European customers. Regulatory scrutiny of Binance’s reliance on reverse solicitation has therefore introduced another uncertainty into its European operating strategy.
For now, Binance says it remains committed to Europe and is progressing its authorization pathway. But the latest closure notices show that the consequences of the licensing gap are becoming more concrete for existing customers, with withdrawal restrictions, balance deductions and account termination replacing the earlier promise of continued access while regulatory discussions proceed.
