Nov 7, 2026, 2:13 p.m. EST
3 min read
Summary
- Binance users in Europe are receiving emails urging them to withdraw their crypto, with fees on leftover balances starting Nov. 29.
- Affected accounts will close on Dec. 31. Users in Spain, France, and Poland say they’ve received similar notices.
- Binance still has no MiCA license, which it needs to serve customers anywhere in the EU.
Binance customers residing in select European nations are getting messages advising them to pull out their digital assets before monthly charges begin on November 29, with profiles scheduled to shut down by the conclusion of the year.
A representative for Binance informed CoinDesk that the trading platform is currently “gradually limiting specific features for impacted clients” following the conclusion of the grace period governed by the European Union’s Markets in Crypto-Assets (MiCA) framework.
The spokesperson noted that “impacted accounts will be shut down effective December 31, 2026,” characterizing the procedure as “a carefully controlled operation.”
The platform outlined these timelines within a communication delivered to patrons. Multiple clients on X have published the notices they obtained, indicating that new deposits have been disabled although account holders retain the ability to extract their capital.
Additional participants outside of French territory, including individuals in Spain, Italy, and Poland, have mentioned that they similarly got notifications concerning the shutdowns.
The exchange pointed out that inbound funding is halted, whereas patrons can still retrieve their cryptocurrency and fiat reserves, the representative stated, appending that client properties stay secure and reachable alongside “no sudden freeze.”
Back in June, Binance initially reached out to clientele located in France, Spain, Italy, and Poland, encouraging them to withdraw. Those represent territories where it operated locally incorporated entities prior to the termination of the MiCA transition phase.
Account holders located in jurisdictions where Binance lacked a domestic branch, such as Portugal, have not been singled out identically, despite remaining subject to broader EU restrictions, according to the Portuguese publication Expresso.
Commencing November 29, Binance will deduct 0.025% from user cryptocurrency holdings each month, or 10 USDC, whichever amount is greater. The initial deduction will occur within a three-day window following November 29, and a subsequent deduction will happen past December 24. Profiles holding less than the fee amount will forfeit their complete balance, based on the communications sent by Binance to the participants.
The financial watchdog of France, Autorité des marchés financiers (AMF), catalogues the registration of Binance France, active since May 2022, as having expired automatically on July 2. That marks the exact moment when the national registration framework of France concluded and upwards of 50 suppliers lacking a MiCA permit, including the European division of Gemini, were dropped.
Although the specific email text lacks official verification, the terms of service hosted on Binance’s portal indicate that the company may “levy an inactive account fee which may serve to cover the expense of preserving the Digital Assets through any Binance Affiliate or any third party, with such charge to be withdrawn directly from the inactive profile on a monthly basis.”
MiCA mandates cryptocurrency exchanges to acquire certification within an EU member nation in order to service patrons across the entire economic bloc.
Binance canceled its bid for a Greek MiCA authorization in June but stated that it intended to pursue validation inside an alternative EU member country, which it has yet to disclose.
“We feel assured that we will obtain a license over the upcoming months,” Binance commented during that period. The enterprise still fails to appear within the official directory of permitted crypto operators maintained by the European Securities and Markets Authority.
Under the shutdown schedule, Binance will subtract charges from USDC reserves first, followed by alternative digital tokens if necessary. The company mentioned it will designate portfolios containing remaining crypto past December 31 as dormant, a status that could lead to the conversion or relocation of those assets.
“Our dedication to the European market stays constant, and we are actively advancing our regulatory pathway,” the representative remarked.
Originally published at https://www.coindesk.com/business/2026/11/07/binance-users-in-some-european-countries-told-to-pull-crypto-before-fees-kick-in-with-accounts-closing-by-year-end.
