- Binance clients in France, Spain, Italy and Poland are receiving emails saying their accounts will close on 31 December 2026. Deposits are blocked, withdrawals still work.
- From 29 November Binance deducts a monthly fee of 0.025% of the balance or 10 USDC, whichever is higher. On a small balance the fee can take everything.
- Binance holds no MiCA authorisation in any EU member state. It withdrew its Greek application on 24 June 2026 and has not publicly confirmed where it will apply next.
- No end date has been announced for Slovakia. Binance serves the rest of the EU by relying on the exemption for services provided at the client's own initiative, which ESMA and several national regulators are now examining.
- Moving crypto-assets to your own wallet or another exchange is not taxable. Fee deductions taken in crypto-assets and any forced conversion of the balance are.
1. What Binance has announced
The information comes from emails received by clients in four countries and from a Binance spokesperson's statement to FinanceFeeds on 8 November 2026. Binance has not published a separate public announcement with the fee schedule on its website. The spokesperson confirmed that the exchange is "progressively restricting" services and described the account closures as a "managed process" with no sudden freeze.
| Date | What happens in France, Spain, Italy and Poland |
|---|---|
| 1 Jul 2026 | end of the MiCA transitional period: new sign-ups, deposits, new spot orders and Earn products stopped, withdrawals still available |
| 2 Jul 2026 | the French regulator AMF removed Binance France SAS from its register of providers, where it had been listed since May 2022 |
| 29 Nov 2026 | monthly fee on the remaining crypto-asset balance begins |
| by 2 Dec 2026 | first fee deduction, within three days of 29 November |
| after 24 Dec 2026 | second fee deduction |
| 31 Dec 2026 | accounts close |
| after 31 Dec 2026 | balances are treated as inactive and Binance may later transfer or convert them under its terms |
Source: FinanceFeeds and Arabian Post, 8 November 2026, based on client emails and a Binance statement, AMF register
Why these four countries: Binance had local companies there, registered under national rules that applied before MiCA. Such a registration only allowed it to operate during the transitional period, which under Article 143(3) of MiCA ended on 1 July 2026 at the latest. The article on the end of the MiCA transition period covers it in more detail. According to FinanceFeeds, the closures do not cover Portugal, for example, where Binance had no local company. Clients there are still subject to the same restrictions as in the rest of the EU.
2. The dormant-account fee
From 29 November Binance will deduct a monthly fee of 0.025% of the value of the crypto-asset balance, with a minimum of 10 USDC. Whichever amount is higher applies. USDC is a stablecoin pegged to the US dollar. Binance takes the fee from USDC in the account first, and from other crypto-assets only if there is not enough USDC. If the balance is lower than the fee, the emails say Binance may keep the entire balance.
The 10 USDC minimum applies to every balance up to 40,000 USDC. Only above that threshold is 0.025% more than 10 USDC. On small accounts the fee is therefore high relative to the balance.
| Balance value | Monthly fee | Two deductions by 31 Dec | Share of balance |
|---|---|---|---|
| 50 USDC | 10 USDC | 20 USDC | 40% |
| 500 USDC | 10 USDC | 20 USDC | 4% |
| 5,000 USDC | 10 USDC | 20 USDC | 0.4% |
| 40,000 USDC | 10 USDC | 20 USDC | 0.05% |
| 100,000 USDC | 25 USDC | 50 USDC | 0.05% |
The calculation assumes the balance stays the same for both deductions.
The only way to avoid the fee is to move the funds out before 29 November. Ordinary withdrawal and network fees still apply. Binance's general terms of use also allow fees on dormant accounts.
3. Why Binance has no EU authorisation
Under MiCA (Regulation (EU) 2023/1114), a crypto-asset service provider (CASP) needs authorisation from the supervisory authority of one member state. With it, the provider can operate across the whole EU. This mechanism is called the European passport: one authorisation is valid across the single market, much as a driving licence issued in one member state is valid in the others.
Binance applied for authorisation in Greece, with the Hellenic Capital Market Commission (HCMC). On 16 June 2026 Reuters, citing two sources, reported that the Greek regulator was preparing to reject the application. Binance disputed this and withdrew the application on 24 June "after careful consideration of the status and the timeline of the process in Greece". It said it would obtain authorisation in another member state. It has not publicly confirmed which one. Several media outlets mention France.
In September another layer was added. On 17 September The Wall Street Journal reported that an HCMC vice-chair had allegedly told Binance representatives that ECB President Christine Lagarde had urged Greek Prime Minister Kyriakos Mitsotakis not to approve the authorisation. According to the same newspaper, Greek officials had told ESMA in early June that they planned to grant it. The ECB did not comment and Binance called the report speculation.
The background is the exchange's history. In November 2023 Binance and its founder Changpeng Zhao pleaded guilty in the US to violating anti-money-laundering rules, and the company paid more than $4bn. The registrations Binance held under the old national rules in France, Italy, Lithuania, Poland, Spain and Sweden lapsed after 1 July.
4. How Binance serves the rest of the EU and what it means for Slovakia
Outside the four countries mentioned, Binance continues to serve EU clients according to available information. It relies on Article 61 of MiCA, which allows a provider from a third country to provide a service to an EU client if the client requests it at their own exclusive initiative. This exemption is known as reverse solicitation, meaning that the demand comes from the client. It only applies if the provider has not approached the client in any way: no advertising, no influencer campaign, no website or app aimed at the EU market.
In its guidelines of December 2024, ESMA says the exemption should be understood as "very narrowly framed" and regarded as "the exception". A contractual clause stating that the client came on their own is not enough. What counts is how the relationship actually began. According to Bloomberg, some trades by EU clients are routed through Binance's Abu Dhabi company, which has been authorised there since December 2025. Under MiCA, however, the United Arab Emirates is a third country and an authorisation from there gives no European passport.
On 1 October 2026 the Financial Times reported that ESMA and the regulators of France, Germany and Greece are examining whether Binance is using the exemption legitimately. Some have requested information from the exchange and warned that breaches could lead to sanctions including fines. Binance replied that it "complies with applicable regulatory requirements" and is "actively working toward becoming MiCA-authorised". ESMA has listed this exemption among its supervisory priorities for 2027.
Slovakia. The supervisor of the crypto-asset market in Slovakia is the National Bank of Slovakia. Binance is not in its register or in the ESMA register. As of 8 November 2026, Binance has not publicly announced an end of services or a date for clients in Slovakia. Whether that will happen is not known today. Three developments are possible:
| Development | What it would mean for a client in Slovakia |
|---|---|
| Binance obtains authorisation in another EU member state | the account would probably move to an EU company with new terms and the protection MiCA gives clients of licensed providers |
| regulators do not challenge the use of the exemption | the current situation continues, without MiCA protection |
| regulators do not accept the exemption | a gradual wind-down similar to France, Spain, Italy and Poland |
The experience in the four countries shows the timeline in case of a wind-down: six months passed between the service restrictions and the account closures, and the fee arrived one month before the end. The difference between a licensed provider and an unauthorised exchange, for example in segregating client assets, is covered in the article on the Binance hack.
5. Tax consequences of leaving an exchange
Moving to your own wallet or another exchange. Transferring crypto-assets between your own accounts is neither a sale nor an exchange, so it is not taxable. The acquisition cost, meaning the amount you paid for the crypto-asset, moves with it. On the new exchange, however, you must be able to evidence it from your Binance history. A withdrawal fee paid in a crypto-asset is an exchange of a crypto-asset for a service, and therefore a taxable event. For ordinary amounts these are small sums, but they belong in your records.
The monthly fee deduction. Under Section 2(ai) of the Slovak Income Tax Act, an exchange of a crypto-asset for a service is also a taxable moment. When Binance deducts the fee in USDC or in another crypto-asset, the client has exchanged that crypto-asset for a service. The income is the euro value of the deducted crypto-assets at the time of the deduction, the expense is their acquisition cost. With USDC the difference only comes from movements in the euro to dollar rate. If, however, Binance takes bitcoin bought years ago, the gain on that small portion can be significant relative to the amount.
Forced conversion after 31 December. If Binance converts an inactive balance into another crypto-asset or into money, it is an exchange or a sale. The law makes no distinction between a voluntary and a forced sale. The income belongs to the year in which the conversion took place. The client, however, may not know when or at what price it happened, and obtaining evidence will be harder than it is today. Why an exchange into a stablecoin is also a sale is explained in the article Spot trading and tax.
Selling before leaving. Anyone who sells crypto-assets for euros before leaving has income in the year of the sale. A sale on 30 December 2026 belongs in the 2026 tax return, a sale on 2 January 2027 in the 2027 return. For 2026 a four-band rate applies: 19% up to a tax base of €43,983.32, then 25%, 30% and 35%, plus 16% health insurance contributions. A transfer without a sale does not trigger tax.
The obligation to declare income does not depend on whether the exchange holds MiCA authorisation or whether it reports the client under the DAC8 directive. The basic rules are summarised in the article Crypto taxation in Slovakia.
6. Checklist until 31 December
| Step | When | Why |
|---|---|---|
| download the history of trades, deposits, withdrawals and conversions for all years, ideally year by year | as soon as possible, clients in Slovakia too | evidence of acquisition cost, an export may no longer be possible after the account closes |
| save the emails from Binance and a snapshot of balances | with every notice | evidence of the reason and timing of a transfer or conversion |
| check the destination exchange in the ESMA or National Bank of Slovakia register | before transferring | a licensed provider must hold client assets separately from its own |
| check the network and address and send a small test amount first | with every transfer | a blockchain transfer cannot be reversed |
| move funds out of an account in France, Spain, Italy or Poland | before 29 November | you avoid the monthly fee |
| decide whether to sell or only transfer | before 31 December | a sale belongs to the year in which it took place |
Frequently asked questions
Is Binance closing accounts for clients in Slovakia too? As of 8 November 2026, Binance has not publicly announced an end of services or a date for Slovakia. Emails about account closures on 31 December are being received by clients in France, Spain, Italy and Poland.
How high is the fee before the account closes? 0.025% of the value of the crypto-asset balance per month, with a minimum of 10 USDC. The higher amount applies. For a balance up to 40,000 USDC this means 10 USDC a month. The first deduction comes within three days of 29 November, the second after 24 December.
Is a withdrawal from Binance to your own wallet taxable? No. A transfer between your own accounts is neither a sale nor an exchange. Only a withdrawal fee paid in a crypto-asset is taxable, because it is an exchange of a crypto-asset for a service.
Is the dormant-account fee deduction taxable? Yes. If Binance deducts the fee in USDC or in another crypto-asset, it is an exchange of a crypto-asset for a service under Section 2(ai) of the Slovak Income Tax Act. The income is the euro value of the deducted crypto-assets, the expense is their acquisition cost.
What if Binance converts the balance after 31 December? A conversion into another crypto-asset or into money is an exchange or a sale even if the client did not place the order. The income belongs to the year in which the conversion took place, and its timing and price must be evidenced.
This article is a general overview, not individual tax or investment advice.
The article reflects the situation as of 8 November 2026. Binance has not yet confirmed the fee schedule in a separate public announcement, the details come from client emails and a statement by an exchange spokesperson. Sources: FinanceFeeds, Arabian Post and Gate News (8 Nov 2026), Euronews (25 Jun 2026), Reuters, The Wall Street Journal via Cointelegraph (18 Sep 2026), Financial Times via crypto.news and CoinPaprika (1–2 Oct 2026), Bloomberg via Startup Fortune, AMF register, ESMA register, ESMA guidelines on Article 61 MiCA (December 2024), Regulation (EU) 2023/1114 (MiCA), in particular Articles 59, 61 and 143, Slovak Act No. 595/2003 Coll. on Income Tax.