Binance has begun notifying some European customers to withdraw their crypto before monthly account fees take effect on Nov. 29, with balances still held when accounts close on Dec. 31, 2026. Deposits are already blocked for affected users, while withdrawals of crypto and fiat remain open.

The move comes as the world's largest crypto exchange remains without a license under the European Union's Markets in Crypto-Assets (MiCA) framework, the bloc's licensing regime for crypto service providers.

⚠️ ALERT: Binance France to close ALL customer accounts by December 31 as the EU's MiCA licensing requirement forces a wind-down. The world's largest crypto exchange told customers its French entity must close their accounts as the EU's MiCA transition period ended before it…

— Coin Bureau (@coinbureau) November 7, 2026

A Binance spokesperson told CoinDesk that the exchange is "progressively restricting certain services for affected users." The company described the shutdown as "a carefully managed process." Users in France, Spain, Italy and Poland have shared similar notification emails on X.

How the Fees Work

From Nov. 29, Binance will charge 0.025% of the remaining balance each month, or 10 USDC — a dollar-pegged stablecoin — whichever is higher. The first charge will be taken within three days of that date, and a second charge is due after Dec. 24. Fees are deducted from USDC holdings first, then from other crypto if necessary.

The 10 USDC minimum means the flat fee applies to balances below roughly $40,000, and a small account could lose 20 USDC across the two charges — a structure that weighs most heavily on the smallest balances. Accounts holding less than the fee owed will have their entire balance taken, while accounts emptied before the Nov. 29 calculation day will not be charged.

Binance's terms state that it may charge a dormant account fee to cover the cost of maintaining digital assets. CoinDesk noted that the fee email itself has not been confirmed. According to the exchange, assets left after Dec. 31 will be treated as inactive, which may lead to them being converted or transferred.

Why the Accounts Are Closing

The closures follow the end of the transition period under MiCA, which became mandatory for crypto service providers on June 30, 2026. The rules require exchanges to secure authorization in one EU member state in order to serve customers across the bloc — a mechanism commonly known as passporting.

Binance withdrew its Greek license application in June and said it would seek approval elsewhere. It has not named that country, and it does not appear in the European Securities and Markets Authority's (ESMA) register of authorized crypto providers. The company says its "commitment to Europe remains unchanged" and that it is "actively progressing our authorization pathway."

France's financial regulator lists Binance France's registration, held since May 2022, as lapsed as of July 2. More than 50 providers without a MiCA license were removed that day. Users in France and several other EU countries lost access to spot, margin and futures trading on July 1 but retained withdrawal rights, with an estimated 2 million French customers affected.

The notification emails arrive roughly four months after those trading restrictions, extending a staged wind-down that began when the transition period closed.

Portuguese newspaper Expresso reported that users in countries without a local Binance entity, such as Portugal, have not been singled out and remain subject to the broader EU restrictions.

Background

TRM Labs found that only 281 of 1,343 crypto providers secured authorization, according to Bitcoin.com News. The outlet also reported that Binance disclosed a $6.3 billion hack on Oct. 29. Users subsequently pulled a net 25,793 bitcoin, worth $3.6 billion, between Nov. 1 and Nov. 2 — the largest two-day net outflow in 12 months.

With fees set to begin on Nov. 29, affected users have roughly three weeks to withdraw their funds. The clearest signal of progress on the exchange's stated authorization pathway will be an entry for Binance in ESMA's register of authorized crypto providers, where it does not currently appear.

Source: CoinCentral