Binance to Close Affected EU Accounts by End of 2026 Amid MiCA Transition

Binance has informed users in several European countries that it will progressively restrict certain services and close affected accounts effective 31 December 2026, with withdrawals still permitted and deposits blocked for those users.

The company sent emails outlining deadlines including a monthly dormant fee of 0.025% of remaining crypto balances or 10 USDC, whichever is higher, to be charged starting within three days of 29 November and again after 24 December. Accounts with balances smaller than the fee will have their entire balance taken according to the notices.

Users in France, Spain, Italy and Poland received earlier communications in June urging withdrawals, reflecting jurisdictions where Binance previously operated locally registered businesses before the Markets in Crypto-Assets transition period ended. Some users outside those countries, including Spain, Italy and Poland, also reported receiving closure emails, while users in Portugal were not singled out in the same way according to reporting referenced in the notices.

Binance stated that deposits are blocked for affected accounts but that crypto and fiat balances remain safe and accessible and that there is no sudden freeze. The company said it will deduct fees from USDC holdings first and then from other crypto assets if necessary, and that accounts retaining crypto after 31 December may be treated as inactive which could result in conversion or transfer of assets.

The Binance spokesperson described the closure process as a carefully managed process and reiterated the firm’s commitment to securing authorization in an EU member state. Binance previously withdrew a Greek MiCA application in June and indicated plans to seek approval in another EU country, while it does not appear in the European Securities and Markets Authority register of authorized crypto providers.

Liberal News Analysis: What Does This Development Mean?

The announced progressive restrictions and account closures reflect Binance’s response to the end of the MiCA transition period and the need for local authorization to serve EU customers. The imposition of a monthly fee and the outlined timeline create practical pressure for affected users to withdraw assets before charges are applied. The company’s statement that assets remain accessible seeks to reassure users while it pursues authorization paths within the EU.

Quick Glance: What You Need to Know

• Binance will progressively restrict services and close affected accounts with effect from 31 December 2026.
• Deposits are blocked for affected users but withdrawals of crypto and fiat balances remain available.
• A monthly fee of 0.025% of remaining crypto balance or 10 USDC will be charged starting within three days of 29 November and again after 24 December.
• Fees will be taken from USDC first then other crypto assets, and accounts with insufficient funds will have entire balances taken.
• Binance said it withdrew its Greek MiCA application and plans to seek approval in another EU member state while pursuing authorization.