Binance sets 31 December closure for affected European accounts, with fees from 29 November

Binance has told users in some European countries to withdraw their crypto before fees begin on 29 November, with affected accounts reportedly closing on 31 December. Users in France, Spain and Poland say they received the notices, and users in Italy have reported emails as well.

From 29 November Binance will charge 0.025% of the remaining balance a month or 10 USDC, whichever is higher, with the first charge within three days and a second after 24 December. Fees come from USDC first. Crypto left after 31 December is treated as inactive and may be converted or transferred. Deposits are blocked and withdrawals remain open.

Binance has no MiCA licence: it withdrew its Greek application in June, and Binance France's national registration lapsed on 2 July. It does not appear in ESMA's register of authorised crypto providers. Binance says its commitment to Europe is unchanged and that it is progressing its authorisation pathway.