Binance to Close Some European Accounts by Dec. 31 as MiCA Bites

Binance will close affected customer accounts in France, Spain, Italy and Poland on December 31, 2026, after the European Union's MiCA transition period ended without the exchange securing a full EU authorisation. Deposits to those accounts are already blocked, withdrawals remain open, and a monthly fee on remaining balances starts November 29. Bitcoin traded below $76,000 on Sunday morning as the news added to a difficult week for crypto.

What happened?

Customers in the four countries have reported receiving emails telling them to withdraw their crypto and cash before their accounts close. A Binance spokesperson told CoinDesk the exchange is "progressively restricting certain services for affected users" following the end of the transition period under the EU's Markets in Crypto-Assets rules, known as MiCA, and that users' assets remain safe and accessible while withdrawals are available.

The timetable is tight. From November 29, Binance plans to charge 0.025% of any remaining crypto balance each month, or 10 USDC, whichever is higher, with a second charge due after December 24. Accounts still holding balances after December 31 will be treated as inactive, and assets may then be converted or transferred under the exchange's terms.

Key facts at a glance

Who is affected: Certain Binance customers in France, Spain, Italy and Poland — the countries where Binance ran locally registered businesses before MiCA. The total number of accounts has not been disclosed.
Closure date: December 31, 2026.
Fee start: November 29, 2026 — 0.025% of the remaining balance per month, or 10 USDC minimum.
What still works: Withdrawals of crypto and fiat. Deposits are blocked for affected accounts.
Why now: Binance France's earlier national registration lapsed on July 2, Binance is not listed in the European Securities and Markets Authority's directory of authorised crypto service providers, and it withdrew a Greek MiCA licensing application in June while saying it would pursue approval elsewhere in the EU.

Why is this blowing up?

Binance is the world's largest crypto exchange, so a forced wind-down in four major European markets is a big story on its own. It is also the clearest sign yet that MiCA has real teeth: old national registrations are no longer enough, and even the biggest platform must pause part of its European business while it seeks a bloc-wide licence.

The market backdrop made the reaction sharper. Bitcoin was trading at $75,776.70, down 0.34%, at 01:06 ET on Sunday, November 8, and has been unable to reclaim $80,000 after a heavy week that included large spot Bitcoin ETF outflows. Ether, XRP, Solana and Cardano were also lower in the same Sunday snapshot, while BNB posted a small gain. In that mood, fresh regulatory uncertainty landed harder than it might have in a rising market.

Two other stories added to the confidence question. The European Union has set up a dedicated task force aimed at stopping crypto being used to evade sanctions on Russia. Separately, Gnosis Pay said it detected unauthorised access to its legacy consumer card system on November 3 and disclosed it on November 6. It said customer funds were not affected, but some customer information was exposed, and it has strengthened fraud monitoring ahead of a planned shutdown of that system in December.

What happens next?

For affected customers, the practical deadline is not December 31 but November 29, when fees on remaining balances begin. After that date, leaving funds in place costs money every month, so most account holders who received the notice are expected to withdraw or move their assets well before the final closure.

For Binance, the next step is regulatory. It says it is still working toward European authorisation. Until a MiCA licence is secured, the restrictions in these four markets stand — and they do not automatically apply to every Binance customer across the EU.

For the wider market, traders will watch two things on Monday: whether Bitcoin can hold the $75,000 area when US spot ETF trading resumes, and whether other exchanges face similar MiCA deadlines. This post reports what happened and how markets reacted; it is not a recommendation to buy, sell or hold any asset.

FAQ

Which Binance accounts are closing?

Certain affected accounts in France, Spain, Italy and Poland will close on December 31, 2026. Binance has not disclosed how many accounts are affected.

Can affected customers still withdraw their money?

Yes. Deposits are blocked, but Binance says withdrawals of crypto and fiat remain available and assets remain safe and accessible during the wind-down.

When do the new fees start?

On November 29, 2026, remaining balances face a monthly charge of 0.025% or 10 USDC, whichever is higher, with another charge scheduled after December 24.

Why is Binance restricting Europe now?

The MiCA transition period has ended and Binance has not yet secured a full EU authorisation. Its French registration lapsed on July 2 and it withdrew its Greek licensing application in June.