Binance confirmed that certain European customers’ accounts will be closed by December 31, 2026, after failing to obtain the authorization required under the MiCA regulation by the deadline.
But what happened?
The European Union began requiring cryptocurrency exchanges to obtain a specific license, called MiCA, to offer regulated services in the bloc.
The transition period ended in July 2026. Since Binance has not yet obtained this authorization, it had to restrict operations for affected customers.
What are the restrictions?
Affected customers in France, Spain, Italy, and Poland received notifications stating that new deposits would be blocked and their accounts scheduled for closure. Cryptocurrency and traditional currency withdrawals remain available.
Starting November 29, the remaining balances in these accounts will be subject to a monthly fee of 0.025%, with a minimum of 10 USDC, whichever is greater.
What about other countries, such as Portugal?
Portugal is not among the countries specifically named in the closure notices, but it is also subject to the EU’s MiCA rules.
Important: Binance has not announced the closure of all accounts in Europe. The measure affects specific accounts, while the exchange continues to seek authorization to operate under the new regulatory framework.
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