Binance is preparing to close accounts for affected customers in several European markets by December 31, 2026, while introducing monthly charges on remaining cryptocurrency balances beginning November 29, according to notices shared by users and confirmed by the exchange. The moves deepen Binance's European restrictions following the end of the Markets in Crypto-Assets Regulation transition period on July 1, 2026.
Affected users in France, Spain, Italy and Poland have reported receiving account-closure emails. Binance previously operated locally registered businesses in those countries. The exchange has blocked deposits, but customers can still withdraw cryptocurrency and fiat balances. Binance said customer assets remain safe and accessible, with no sudden freeze on affected accounts. The account closure process does not appear to cover every European customer; users in Portugal, where Binance did not operate through a local entity, have not been singled out in the same way.
Under the new fee schedule, Binance will charge 0.025% of the remaining balance or 10 USDC, whichever is higher, starting on November 29. The first deduction is due within three days of that date, with a second charge after December 24. Binance will deduct fees from USDC holdings first and may use other cryptocurrencies if the USDC balance is insufficient. Accounts below roughly 40,000 USDC would face the flat 10 USDC minimum, and if an account contains less than the applicable fee, the exchange may deduct the entire remaining balance. After December 31, accounts still holding cryptocurrency will be treated as inactive, and remaining assets may be converted, transferred or otherwise handled under Binance's terms of use.
Binance's European restrictions trace back to its failure to secure a MiCA licence before the July 1 deadline. The exchange withdrew its application to Greece's Hellenic Capital Market Commission on June 24. On July 2, France's Autorité des marchés financiers automatically removed Binance France SAS from its national crypto-asset service provider register. Binance co-CEO Richard Teng said in July that the company was in discussions with regulators in other jurisdictions and remained committed to securing authorization.
European regulators have also examined whether Binance can continue serving some customers through MiCA's reverse-solicitation exemption, which allows overseas providers to serve EU customers only when the customer independently approaches the provider. Binance says it remains committed to Europe and is progressing its authorization pathway, but the latest notices show concrete consequences for existing customers.
Meanwhile, OKX Europe has detailed its own European offer, listing products available under applicable European regulatory frameworks. OKX highlights euro transfers, spot trading, derivatives, staking and tokenized stocks, presenting its services as part of a regulated European framework.
