Binance, the world’s largest cryptocurrency exchange by daily trading volume, has announced it will close user accounts in France, Spain, Italy, and Poland by December 31, 2026. The closure follows the company’s inability to secure authorization under the European Union’s Markets in Crypto-Assets Regulation (MiCA) by the required deadline.
New monthly fees for affected accounts
Starting November 29, Binance will implement a monthly account maintenance fee on remaining balances for users in the affected countries. According to customer notices sent by the exchange, the new fee will be either 0.025% of the account balance or a minimum of 10 USDC, whichever is higher.
USDC is a popular stablecoin designed to maintain a 1:1 value with the US dollar.
Accounts holding less than approximately 40,000 USDC will be charged the minimum flat fee of 10 USDC each month. The first deduction occurs within three days of November 29, with a second deduction scheduled after December 24, just before account closure.
Binance’s customer communications indicate that if an account balance is lower than the fee, the exchange may deduct the entire remaining amount.
Binance will first remove the fee from a user’s USDC holdings. If a user does not have enough USDC, the platform will take fees from other available cryptocurrencies in the account.
| Account Balance | Monthly Fee |
|---|---|
| Below 40,000 USDC | 10 USDC |
| Above 40,000 USDC | 0.025% of balance |
After December 31, any account with unclaimed funds will be treated as inactive. Remaining assets may be converted or transferred according to Binance’s terms of use. Customers are strongly encouraged to withdraw their funds before the deadline to avoid additional fees or asset conversions.
Impact of MiCA and regulatory background
MiCA, the Markets in Crypto-Assets Regulation, is a comprehensive legal framework adopted by the European Union to govern digital asset services across member states. Under MiCA, crypto platforms must obtain authorization in at least one EU country to continue operations within the bloc. The transition period for companies operating under previous national licenses ended on July 1, 2026.
Binance withdrew its application from Greece’s Hellenic Capital Market Commission on June 24, after several months in discussions without reaching a resolution. That same month, Binance started notifying customers in affected markets to withdraw their assets and stopped accepting new EU registrations.
On July 2, France’s financial regulator, Autorité des marchés financiers, removed Binance France SAS from the national register. This removal was procedural, resulting from the termination of the national registration system as MiCA came into force rather than from regulatory action against Binance itself.
Unlike users in the four affected countries, Binance clients in Portugal and other nations where the company did not operate a local entity have not received closure instructions, but their accounts remain subject to EU-wide restrictions under MiCA.
Regulatory authorities have also scrutinized Binance’s attempts to serve EU customers under MiCA’s reverse-solicitation clause. This exemption allows crypto service providers outside the EU to serve customers only when approached on the client’s own initiative.
In July, Binance co-CEO Richard Teng stated the company was in ongoing dialogue with other European regulators and suggested that Binance aimed to obtain MiCA authorization elsewhere in the region, though no specific jurisdiction has been named.
Mini dictionary: MiCA (Markets in Crypto-Assets Regulation) is the European Union’s legislative framework for supervising digital asset service providers and stablecoin issuers, intended to standardize regulations and increase consumer protection across EU states.
Customer guidance and current restrictions
Deposits of both fiat and cryptocurrencies are already blocked for users in the impacted countries. Withdrawals remain open until accounts are closed at the end of 2026.
Binance’s published terms of service permit monthly dormant-account fees and allow asset conversions or transfers for balances left inactive beyond the account closure date, consistent with the new measures being implemented.
Though Binance has not announced these changes publicly, customer notifications and regulatory filings confirm the closure process and associated fees for users in France, Spain, Italy, and Poland.
