Binance will close certain European customer accounts by 31 December 2026 as it adjusts to the EU’s crypto regulations.
Customers in France, Spain, Italy and Poland have reported receiving closure notices, according to CoinDesk.
The closures follow the expiry of the transitional period under the EU’s Markets in Crypto-Assets (MiCA) framework, which requires crypto service providers to obtain authorisation.
Binance withdrew its MiCA licence application in Greece in June and plans to seek approval elsewhere in the EU.
It was not listed among authorised providers in the European Securities and Markets Authority’s register, according to the report.
The exchange’s French registration also expired automatically on 2 July when the country’s previous regulatory regime ended.
Customers Face Fees Ahead of Account Closures
Affected customers can still withdraw their crypto and fiat balances, although deposits have been blocked.
Emails shared by users indicate that monthly fees will apply to remaining crypto holdings from 29 November at 0.025 percent of the balance or 10 USDC, whichever is higher.
Customers with insufficient funds to cover the fee could lose their remaining holdings.
The first charge is expected within three days of 29 November, followed by another after 24 December.
Accounts holding assets beyond 31 December may be classified as inactive, potentially resulting in their holdings being converted or transferred.
Binance said customer assets remain accessible and that it continues to pursue regulatory authorisation in Europe.
The regulatory changes come shortly after Binance detailed how attackers carried out a US$6.3 billion crypto hack involving compromised employee systems and stolen credentials.
