Binance sets year-end account closures across Europe
Key points
- Binance will close affected European accounts on 31 December 2026, introducing monthly fees for remaining crypto balances from 29 November.
- Customers face charges of 0.025% of remaining balances or 10 USDC, whichever is higher.
- The closures follow Binance's failure to secure MiCA authorisation, restricting its ability to serve customers across the European Union.
Binance will close affected European accounts on 31 December, charging fees on remaining crypto balances from 29 November, according to media reports.
The notices cover customers in France, Spain, Italy and Poland, where Binance previously operated locally registered businesses.
"Affected accounts will be closed with effect from 31 December 2026," a Binance spokesperson told CoinDesk
From 29 November, monthly charges will equal 0.025% of remaining balances or 10 USDC, whichever is higher, according to the emails from Binance to the users.
The spokesperson also confirmed there was "no sudden freeze", with customer assets remaining safe and accessible.
Deposits are blocked, but customers can still withdraw cryptocurrency and fiat balances before their accounts close, with USDC holdings covering fees first.
The restrictions follow the European Union's Markets in Crypto-Assets (MiCA) transition period, which requires exchanges to secure authorisation in an EU member state.
Binance's European account closures highlight the growing impact of MiCA authorisation requirements on crypto exchange operations across the region.
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