Binance has announced plans to close certain customer accounts in France, Spain, Italy and Poland by December 31, 2026, following changes to cryptocurrency regulatory requirements across the European Union. The affected customers have reportedly received notifications asking them to withdraw their remaining cryptocurrency and fiat balances before the deadline. The exchange has already restricted new deposits on these accounts, although withdrawals of existing funds remain available during the transition period. A Binance spokesperson confirmed that the affected accounts would be closed with effect from December 31, describing the move as part of a gradual process to restrict services for customers covered by the changes. The company has also said that customer assets remain accessible and that the process does not involve an immediate freeze of funds. The development concerns specific customer accounts associated with the four European markets and should not be interpreted as a decision to shut down Binance globally. The exchange has not disclosed the total number of affected customers or provided a complete breakdown of accounts covered by the closures.
Customers who leave cryptocurrency in the affected accounts may also face monthly charges beginning November 29, 2026. According to notifications shared by users, Binance will charge 0.025% of the remaining cryptocurrency balance or 10 USDC per month, whichever amount is higher. The first deduction is expected within three days of November 29, with another charge scheduled after December 24. The reported fee structure indicates that deductions will initially be taken from available USDC holdings, with other cryptocurrency assets potentially used if the USDC balance is insufficient. Customers with balances smaller than the applicable charge could lose their remaining holdings through the deduction. These fee details have been reported from customer emails and have not been presented as a separate public announcement by Binance. The exchange’s spokesperson has confirmed the account closure date and service restrictions, but the specific fee arrangements are based on the notices received by affected users. Customers who have received such notifications should therefore review the terms communicated directly to their accounts and complete any necessary withdrawals before the applicable deadlines.
The account restrictions are linked to the European Union’s Markets in Crypto-Assets (MiCA) framework, which establishes regulatory requirements for cryptocurrency exchanges and other digital asset service providers operating across the bloc. Under the framework, covered providers must obtain authorisation in an EU member state to offer regulated services across the European market. Binance had previously operated through locally registered entities in the four countries before the transition arrangements under MiCA came to an end. The exchange initially contacted customers in these markets in June 2026, advising them to withdraw their assets as regulatory requirements changed. Binance also withdrew its application for a MiCA licence in Greece in June and indicated that it intended to pursue authorisation in another EU member state. However, the company has not publicly identified the jurisdiction through which it plans to secure the required approval. The latest restrictions reflect the challenges cryptocurrency platforms face when adapting existing operations to a common regulatory framework. MiCA is intended to establish consistent licensing and compliance requirements for digital asset service providers, while companies that have not secured the necessary authorisation must adjust their services according to applicable rules.
The reported account closures do not establish a general shutdown of Binance services in Pakistan or other markets outside the four countries identified in customer notifications. Pakistani users should not assume their accounts are affected simply because Binance is restricting certain European accounts. Customers who live in the affected countries or hold accounts associated with the relevant local arrangements should check official communications from the exchange to establish whether they are included. They should also verify withdrawal deadlines, supported networks and applicable charges before transferring cryptocurrency to another exchange or personal wallet. Binance has maintained that its commitment to the European market remains unchanged and that it continues to work towards securing regulatory authorisation. However, the company has not confirmed when the licensing process will be completed or whether approval will be obtained before the December closure date. For affected customers, November 29 is the reported start date for monthly charges on remaining balances, while December 31 is the confirmed account closure deadline. The situation highlights how regulatory licensing requirements can directly affect access to cryptocurrency services in individual markets, even when an exchange continues operating elsewhere.
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