Binance closes accounts in France, Spain, Italy and Poland on Dec 31
Binance has no MiCA licence, so some European accounts close on December 31, and balances left after November 29 start paying a fee.
Event: November 7, 2026
Primary source: November 7, 2026
Published here: November 8, 2026 at 08:56 AM UTC
Read: 2 min
What happened
Binance confirmed to CoinDesk that it will close some European accounts with effect from December 31, 2026. Deposits are already blocked, withdrawals still work. Users in France, Spain, Italy and Poland got the emails. Binance used to run local companies there. Per the emails, from November 29 balances pay 0.025% a month, at least 10 USDC.
Why it matters to you
MiCA is the EU's single crypto law. To serve EU customers, an exchange needs a licence from one member state. Binance has none. If your balance is under 10 USDC, the fee can take all of it. Crypto left after December 31 may be converted or transferred.
What to check and watch
If you got the email, withdraw everything before November 29 to your own wallet or a licensed exchange. Test the address and network with a small transfer first. Watch which country Binance applies in. This is an overview, not advice.
Where it’s happening
LIVEDrag to spin. Green dots: the exchange is trading right now (regular hours, holidays not counted). Shadow: where it is night now. Borders: Natural Earth, quakes: USGS. Layer idea: God’s Eye View (MIT).
What happened. On November 7 Binance users in several EU countries posted the same email on X. A Binance spokesperson confirmed to CoinDesk that the exchange is "progressively restricting certain services for affected users" and that their accounts will be closed with effect from December 31, 2026. The spokesperson called it "a carefully managed process" with "no sudden freeze."
Dates and fees. Per the emails to users, from November 29 Binance charges 0.025% of the balance a month or 10 USDC, whichever is higher. The first charge comes within three days of November 29, the second after December 24. USDC goes first, then other crypto. If the balance is below the fee, all of it is taken. CoinDesk notes Binance has not separately confirmed the emails, but its terms do allow a monthly dormant account fee.
Why. In June Binance withdrew its MiCA application in Greece and said it would apply in another EU country. It still has not named one. Binance is not on the ESMA register of licensed crypto firms. In France, Binance France's registration lapsed automatically on July 2, when the national regime ended.
Who is affected. Users in France, Spain, Italy and Poland got the emails, where Binance had local companies. Users in places like Portugal have not been singled out, but general EU rules still apply to them. If you got no email, check your in-app notices.
More Binance news. On November 7 Binance said its chief financial officer Kaiser Ng is leaving. Justin Yek, most recently vice-president of finance at Airwallex, takes over. Co-CEO Yi He said a transition plan ran over the last half year.
What we don't know. Where and when Binance gets a licence. Whether users can return to the same accounts. How exactly crypto left after December 31 will be converted or transferred.
Confirmed facts
- A Binance spokesperson confirmed to CoinDesk that affected accounts will be closed with effect from December 31, 2026.[1]
- Deposits are blocked; crypto and fiat withdrawals still work.[1][3]
- Users in France, Spain, Italy and Poland reported receiving such emails.[1][3]
- Per the emails, from November 29 the fee is 0.025% of the balance a month or 10 USDC, whichever is higher; a second charge follows after December 24.[1][3]
- If the balance is below the fee, the whole balance is taken.[1]
- On June 24 Binance withdrew its MiCA application in Greece and said it would apply in another EU member state.[2]
- Binance is not on ESMA's register of authorised crypto providers.[1]
- Binance CFO Kaiser Ng is leaving; Justin Yek is the new CFO.[4]
Implications
- ConfirmedCrypto left in affected accounts after November 29 will shrink because of the monthly fee.
- ConfirmedSmall balances under 10 USDC can be wiped out entirely.
- Our readingSome EU users will move to licensed exchanges or their own wallets. This is our inference.
Still unknown
- Which EU country Binance will apply in for a MiCA licence, and when it gets one
- Whether users can return to the same accounts after a licence
- How crypto left after December 31 will be converted or transferred
Who it affects
France, Spain, Italy, Poland, EU. Binance users in Europe
Sources
- CoinDesk: Binance users in some European countries told to pull crypto before fees kick in, with accounts closing by year end November 7, 2026 · media
- Binance: Important Update for Our European Users June 24, 2026 · official
- Investing.com: Bitcoin holds below $76K as Binance EU closures add to crypto market pressure November 8, 2026 · media
- Reuters (via Charlotte Observer): Binance CFO Kaiser Ng steps down, Justin Yek named new finance chief November 7, 2026 · media
Cover: Freekonomist graphic, a symbolic image, not a photo of the event. This is a news explainer, not financial advice.
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