Binance is preparing to close accounts belonging to some customers in France, Spain, Italy and Poland by December 31, 2026, after failing to secure the European Union authorisation required to continue providing regulated crypto services across the bloc.
The exchange has told affected customers to withdraw their cryptocurrency and fiat balances while withdrawals remain available. Deposits have already been blocked, and monthly fees on remaining crypto balances are scheduled to begin on November 29, according to customer notices reviewed by CoinDesk.
Why Binance is closing the accounts
The account closures follow the end of the transition period under the EU’s Markets in Crypto-Assets Regulation, known as MiCA.
The regulation requires crypto-asset service providers operating in the EU to obtain the relevant authorisation. The transition period ended on July 1, 2026, leaving providers without the required licence unable to continue offering covered services under the previous arrangements.
Binance withdrew its application for a licence in Greece in June and said it planned to pursue authorisation through another EU member state. However, the exchange has not publicly confirmed that it has secured the required approval.
The latest notices affect customers in France, Spain, Italy and Poland, where Binance previously operated through locally registered businesses.
Users face fees before the deadline
Customers who leave cryptocurrency in affected accounts will face monthly charges from November 29.
According to the reported customer notices, Binance will charge 0.025% of the remaining crypto balance or 10 USDC, whichever is higher. The first deduction is expected within three days of November 29, with another scheduled after December 24.
Customers who withdraw their balances before the fees begin can avoid these charges.
Binance has said affected customers can still withdraw their cryptocurrency and fiat balances during the wind-down process. The exchange described the closures as a carefully managed process and said customer assets remain accessible.
What happens to funds left behind?
Accounts are scheduled to close on December 31, 2026. Customers who leave assets on the platform may face further action under Binance’s account terms, including the possible conversion or transfer of remaining assets.
Users in the affected countries should check their official Binance account notifications and arrange withdrawals before the relevant deadlines.
The development highlights the impact of Europe’s new crypto licensing framework. While Binance says it remains committed to the European market, its ability to serve customers will depend on securing the necessary regulatory authorisation.
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