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Binance is telling users in some European countries to pull their crypto and cash out, with their accounts set to close on Dec. 31.
A Binance spokesperson confirmed the move Saturday, saying the exchange is “progressively restricting certain services for affected users” after the end of the transition period under the European Union’s Markets in Crypto-Assets rules, known as MiCA. “Affected accounts will be closed with effect from 31 December 2026,” the spokesperson said, calling it “a carefully managed process,” a report said.
What affected users are seeing
Users in France, Spain, Italy and Poland say they received emails from Binance about the closures, according to the report. Deposits are blocked on affected accounts, but withdrawals of crypto and regular money remain open. The spokesperson said users’ assets remain safe and accessible and there is “no sudden freeze.”
Why it is happening
MiCA requires crypto exchanges to hold authorization in an EU member state to serve customers across the bloc. Binance first contacted users in the four countries in June, urging them to withdraw; those are countries where it ran locally registered businesses before the transition period ended. The spokesperson said the company’s “commitment to Europe remains unchanged” and that it is “actively progressing” its authorization path.
JBizNews Desk | Dubai, United Arab Emirates
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