Binance has instructed some customers across Europe to withdraw their cryptocurrency before their accounts are closed. The affected accounts are scheduled for closure on December 31, 2026.
The cryptocurrency exchange has already stopped accepting new deposits from affected customers. However, users can still withdraw their existing cryptocurrency and traditional currency balances.
Customers in France, Spain, Italy, and Poland have reportedly received similar notifications. The company is gradually implementing these restrictions following changes in European cryptocurrency regulations.
According to emails shared by affected customers, Binance will introduce monthly charges starting November 29, 2026. The fee will be calculated at 0.025 percent of the remaining cryptocurrency balance.
However, customers will pay at least 10 USDC per month. The exchange will charge whichever amount is higher.
This means customers who keep their funds in affected accounts could face additional costs. They have been advised to withdraw their remaining assets before the closure deadline.
Binance Introduces Restrictions Under EU Crypto Rules
Binance explained that the account restrictions are part of a gradual regulatory transition. The changes follow the end of the transition period under the European Union’s Markets in Crypto-Assets (MiCA) regulations.
The MiCA framework establishes regulatory requirements for cryptocurrency businesses operating within the European Union. It requires crypto platforms to obtain authorisation in an EU member state.
Once authorised, eligible platforms can provide services across the European Union under the framework. These rules aim to establish consistent regulatory standards for the cryptocurrency industry.
Binance said the restrictions are connected to its efforts to comply with these requirements. The company has also maintained its commitment to obtaining European regulatory approval.
Customers Can Still Withdraw Their Funds
Despite the announced restrictions, Binance has clarified that customers’ existing assets remain accessible. The exchange said there is no sudden freeze affecting the accounts.
Affected users can continue withdrawing their cryptocurrency and fiat currency balances. However, new deposits are no longer available for these customers.
Customers should complete their withdrawals before December 31, 2026. Keeping funds in affected accounts beyond the deadline could lead to further action.
The remaining assets may be subject to conversion or transfer arrangements. This could affect customers who fail to withdraw their holdings before account closure.
The development highlights the growing impact of cryptocurrency regulations across European markets. Exchanges must adjust their services to meet changing legal requirements.
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For affected customers, reviewing account notifications and withdrawing available funds before the deadline remains important.
