Binance to Close Affected European Accounts From Dec. 31
The exchange says it will shut affected EU accounts after operating without MiCA authorization and has warned users about upcoming fees.
Key takeaways
- Binance plans to close affected European user accounts from Dec. 31.
- Monthly fees are scheduled to begin Nov. 29 on remaining crypto balances or at 10 USDC.
Binance will formally close accounts of affected users in Europe from Dec. 31, Expansión reported. Since July 1, the exchange has only been able to facilitate withdrawals of customer assets in the EU because it lacks a MiCA license.
The company has begun notifying users in France, Spain, Italy and Poland. Binance has urged them to close their accounts promptly to avoid fees scheduled to start Nov. 29.
The monthly charge will be 0.025% of a user’s remaining crypto balance or 10 USDC. Binance says the first charge will be made on Dec. 2, with a second after Dec. 24.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
