Binance crypto accounts held by customers in France, Spain, Italy and Poland will close on 31 December 2026, and the exchange has told those customers to move their cryptocurrency off the platform first. New deposits are already blocked for the affected customers, while withdrawals of crypto and fiat money remain open.
The move follows the end of the transition period under the EU’s Markets in Crypto-Assets rules, known as MiCA, which require crypto platforms to hold authorisation in an EU member state to serve customers across the bloc.
A Binance spokesperson told CoinDesk the exchange is progressively restricting certain services for affected users, and said the accounts will close with effect from 31 December 2026 in what the company called a carefully managed process.
Binance crypto accounts face fees before closure
The notices carry a cost for customers who leave funds behind. From 29 November, Binance will charge a monthly fee of 0.025 per cent of the remaining crypto balance, or 10 USDC, whichever is higher. Reports say the first deduction falls within three days of 29 November, with a second charge after 24 December.
The fee applies only to crypto left in the affected accounts. Withdrawals of crypto and fiat stay open during the wind-down, so early movers can avoid the charge. Binance says assets remain safe and accessible, with no sudden freeze.
Crypto left after 31 December will leave the account treated as inactive, and Binance has warned that remaining assets could face conversion or transfer.
Why MiCA forced the move
Under MiCA, a crypto-asset service provider must win authorisation in one member state before it can serve customers anywhere in the bloc through the passporting system. The transitional arrangements that let firms operate under older national registrations ended on 1 July 2026.
Binance ran locally registered businesses in the four countries before the transition ended. It first warned affected customers in June 2026 to withdraw their holdings, and that month it withdrew its application for a MiCA licence from the Hellenic Capital Market Commission in Greece, after months of talks without a formal decision.
France’s regulator, the Autorité des marchés financiers, removed Binance France SAS from its national register on 2 July 2026, when the registration it had held since May 2022 lapsed automatically. The European Securities and Markets Authority updated its register of authorised providers on 5 November, and Binance does not appear on it.
French media first reported the closure emails on 6 November. Binance says it plans to seek approval in another EU member state, which it has not named, and remains committed to securing European regulatory approval.
What it means for users in Pakistan
The notices cover only customers in the four named countries. Binance has announced no change for customers elsewhere, including Pakistan. Pakistani users can keep using their accounts as before, but the episode is a reminder to track where funds sit and to withdraw from any service that starts to restrict access.
It is also a warning about scams. News of closures gives fraudsters a ready-made story, and fake withdrawal messages are a common trick. The National Cyber Crime Investigation Agency has warned citizens against a fake Rs13,000 cash reward scam that uses official-sounding messages to steal banking details. The same care applies to any message claiming to come from an exchange: real notices arrive through the account, not through random links in text messages.
The Binance case shows large platforms must now meet the same licensing rules as banks and brokers in Europe. Microsoft has patented live speech translation, Nvidia’s chief is facing a spy probe, and Apple Music has launched in Pakistan. ProPakistani first reported the closure notices in Pakistan.
What happens next
The timetable is fixed. The first fee falls due within three days of 29 November, a second charge follows after 24 December, and the accounts close on 31 December 2026. Customers who withdraw before 29 November avoid the fees, and those who withdraw before year end avoid the closure.
Binance says it is still working to secure European authorisation, which would let it return to serving customers across the bloc under the MiCA passport. Until then, customers in the four countries must move their funds to another exchange or a private wallet, and check withdrawals have cleared before the final deadline.
Frequently asked questions
Which countries are affected by the Binance closures?
Customers in France, Spain, Italy and Poland have reported receiving the notices. Binance ran locally registered businesses in those countries before the MiCA transition period ended.
When will the affected Binance accounts close?
The affected accounts close with effect from 31 December 2026. New deposits are blocked, but withdrawals remain open until then.
Can customers still withdraw their crypto?
Yes. Withdrawals of crypto and fiat balances remain available during the wind-down, and Binance says assets remain safe and accessible with no sudden freeze.
What fees will Binance charge on leftover balances?
From 29 November, a monthly fee of 0.025 per cent of the remaining crypto balance, or 10 USDC, whichever is higher, with the first deduction within three days and a second charge after 24 December.
Why is Binance closing these accounts?
MiCA requires authorisation in an EU member state to serve customers across the bloc. Binance withdrew its Greek licence application in June, and its French registration lapsed on 2 July.
