Binance to close affected EU accounts on Dec. 31, fees start Nov. 29

Binance has confirmed plans to close affected European customer accounts on December 31, 2026, following the end of the EU’s MiCA transition period, with users facing monthly charges on crypto balances remaining from November 29.

The exchange’s customer notices have reached users in France, Spain, Italy and Poland, where services have been restricted since July. Binance confirmed that the closures apply to affected accounts and said customers can continue withdrawing their cryptocurrency and fiat balances during the wind-down process.

The new charges create an earlier deadline for customers who want to avoid paying to keep their assets on the platform. Accounts holding smaller amounts face a minimum monthly fee of 10 USDC, regardless of whether the percentage-based calculation produces a lower amount.

Binance Confirms December 31 Account Closures Across Europe

Binance has been contacting European customers about the closure schedule after failing to secure authorization under the Markets in Crypto-Assets Regulation before the transition period ended.

“Affected accounts will be closed with effect from 31 December 2026,” a Binance spokesperson told CoinDesk on November 7.

The company described the closures as a managed process involving restrictions on services that customers had previously been informed about. Deposits are blocked for affected accounts, while withdrawals remain available.

Users in France received emails explaining that Binance France would close their accounts as part of an orderly cessation of business. Similar notices have circulated among customers in Spain, Italy and Poland, although the company has not published a country-by-country count of affected accounts.

Binance said customer assets remain accessible during the withdrawal period and rejected suggestions that the process involves an immediate freeze of balances.

In July, crypto.news reported restrictions on French customers after Binance stopped providing spot and margin trading following the MiCA deadline. Withdrawals remained available as the company reduced its services.

The December closure notices introduce a final account deadline for affected users who had continued holding assets during the restricted-service period.

Monthly Fees Begin November 29 for Remaining Crypto Balances

The notices explain that Binance will charge 0.025% of a customer’s remaining cryptocurrency balance each month, subject to a minimum of 10 USDC.

The exchange will apply whichever amount is higher, meaning the minimum charge affects accounts holding less than approximately $40,000 in cryptocurrency.

For example, a customer holding $1,000 in crypto would face a 10 USDC charge because 0.025% of that balance equals only $0.25. The minimum would represent 1% of the customer’s holdings for that assessment.

A $100 balance would face the same 10 USDC minimum, representing 10% of the account’s value. If the balance is smaller than the applicable charge, the exchange’s notices say the entire remaining amount may be deducted.

November 29 is the first calculation date, with the initial deduction scheduled within the following three days. Another calculation is expected after December 24, potentially resulting in a second charge before the accounts close.

According to the customer instructions, Binance will collect fees from available USDC first. Where those funds are insufficient, the exchange may use other cryptocurrencies held in the account.

Customers who withdraw their complete balances before November 29 will avoid the new maintenance charges. The exchange has not indicated that ordinary blockchain withdrawal fees will be waived.

Binance France Registration Expired After MiCA Deadline

The account closures follow changes to European cryptocurrency regulations that replaced several national registration arrangements with a common authorization system.

France’s financial regulator, the Autorité des marchés financiers, confirmed that the MiCA transition period ended on July 1, making authorization mandatory for companies providing covered cryptocurrency services.

The regulator’s public register shows Binance France SAS had held national registration since May 4, 2022. Its registration expired automatically on July 2 because the earlier French regime had ended and the company had not received MiCA authorization.

Binance had pursued an EU license through Greece but withdrew that application in June. It subsequently said it would seek authorization in another member state, without publicly naming a replacement jurisdiction.

Regulatory scrutiny continued after the deadline. An October review of Binance’s EU services examined questions surrounding its use of reverse solicitation, an exemption covering certain services initiated independently by customers.

The company maintained that it was working toward authorization and intended to remain active in Europe.

Assets Remaining After December 31 May Be Transferred

Binance’s French customer notice warns that cryptocurrency remaining after December 31 may be handled under its inactive-account provisions.

The notice states that remaining assets could be converted, transferred or otherwise processed according to the exchange’s terms of use.

Binance’s published terms permit certain dormant-account measures, including transferring assets to another custodian and charging maintenance fees. Customers seeking to recover assets may need to meet additional verification requirements.

In its July customer assurance, the exchange said affected users would retain access to communicated withdrawal options while it worked through the regulatory transition.

The European Securities and Markets Authority’s latest MiCA register, updated November 5, provides a list of authorized crypto service providers. Binance has not announced a successful EU authorization, and its spokesperson said the company continues pursuing a licensing route while closing the affected accounts.