Binance to close some EU accounts by Dec. 31: what users need to know

Binance will close affected European accounts on Dec. 31, 2026, a spokesperson told CoinDesk on Nov. 7. Customer emails published a day earlier by Cryptoast set a monthly fee of 0.025% of the remaining crypto balance or 10 USDC, whichever is higher, starting Nov. 29.

The spokesperson said the exchange is "progressively restricting certain services for affected users" after the end of the EU's Markets in Crypto-Assets transition period, and called the closures "a carefully managed process." Deposits are blocked. Crypto and fiat withdrawals remain open, the spokesperson said, and users' assets remain "safe and accessible" with "no sudden freeze."

Who is affected, and who is not?

The Nov. 6 email published by Cryptoast is addressed to holders of a Binance France account. It says the account will close on Dec. 31, 2026, after an orderly cessation of activity, and that crypto left that day will be treated as notice that Binance intends to consider the account inactive. That, the email says, may lead to conversion, transfer or other handling of the assets.

CoinDesk reported that some users outside France, including in Spain, Italy and Poland, said they received similar notices. Those are the same four countries Binance first contacted in June, the report said, where it had run locally registered businesses before the MiCA transition ended. Neither outlet linked to a public Binance announcement; the record is the emails plus the spokesperson.

Users in countries where Binance had no local entity have not been singled out in the same way, CoinDesk reported, citing Portugal's Expresso. This wind-down is separate from the Binance hack and frozen funds in late October, after which Binance customers pulled $3.6 billion.

How the November fees work

From Nov. 29, Binance will charge 0.025% of the remaining crypto balance each month, or 10 USDC, whichever is higher, according to the emails described by Cryptoast and CoinDesk. The first charge is due within three days of Nov. 29, and a second after Dec. 24. Fees come from USDC first, then other crypto if needed. If the balance is smaller than the fee, the entire balance is taken.

The 10 USDC floor is what most retail balances will hit. A 0.025% charge exceeds 10 USDC only above 40,000 USDC, because 10 divided by 0.00025 equals 40,000. On a 1,000 USDC balance, 0.025% would be 0.25 USDC, so the billed amount is 10 USDC; two such charges would remove 20 USDC. Cryptoast reported that accounts that withdraw all crypto before the Nov. 29 calculation day will not be charged.

MiCA requires authorization in an EU member state to serve customers across the bloc, as summarized on ESMA's MiCA page. CoinDesk reported that Binance withdrew a Greek application in June and said then it would apply in another member state, which it has not named. "We are confident we will secure a license in the coming months," Binance said at the time, according to CoinDesk. CoinDesk also said Binance still does not appear in ESMA's register of authorized crypto-asset service providers. A CASP file downloaded from that ESMA page on Nov. 8 also has no Binance entry.

The spokesperson added: "Our commitment to Europe remains unchanged, and we are actively progressing our authorization pathway." A separate U.S. case this week saw regulators cutting off another exchange; the Binance notices are about the lack of a MiCA license. A second fee is scheduled after Dec. 24. Crypto left on an affected account after Dec. 31 is to be treated as inactive.