Binance is winding down some user accounts in parts of Europe, with closures set for 31 December 2026 and inactivity fees starting 29 November 2026. On 6 November 2026, the U.S. Treasury's FinCEN separately moved to cut MEXC Global off from the U.S. financial system, alleging at least $16 billion in illicit-linked transactions between May 2021 and May 2026.
Binance said it is progressively restricting certain services for affected European users and that affected accounts will be closed with effect from 31 December 2026. Reporting indicates users in France, Spain, Italy, and Poland were the main group affected.
Deposits and top-ups have reportedly been blocked for affected accounts, while withdrawals remain available during the wind-down period. Binance also said it will begin charging a monthly inactivity fee of 0.025% of the remaining crypto balance or 10 USDC, whichever is higher, from 29 November 2026.
Binance first contacted users in France, Spain, Italy, and Poland in June 2026, urging them to withdraw. Reporting cited in coverage says Binance withdrew a MiCA-related application in Greece on 24 June 2026, and that France's AMF removed Binance France SAS from its national crypto-asset service provider register on 2 July 2026.
On 6 November 2026, FinCEN issued its final order against MEXC. The inactivity fees begin on 29 November, and affected Binance accounts are scheduled to close on 31 December 2026.
For MEXC, the ban on U.S. financial institutions processing transfers to or from the exchange takes effect 30 days after the order is published in the Federal Register.
According to the Treasury, MEXC facilitated at least $16 billion in transactions tied to sanctions evasion, cybercrime, and other illicit activity from May 2021 through May 2026.
Reported subcomponents include nearly $1.5 billion tied to Russian sanctions evasion, roughly $232 million in direct transactions with sanctioned entities, and about $22 million linked to Iran's Central Bank and the IRGC Quds Force in one account covered by the order. These figures come from Treasury's allegations as reported by the press; they have not been tested in court.
One market report published on 8 November 2026 said Bitcoin was trading below $76,000 as regulatory pressure and Binance's European account closures weighed on sentiment. Market moves of this kind are hard to attribute to a single story, and the report did not provide a full breakdown of the cause.
Analysts quoted in coverage generally frame the actions as part of a tighter compliance environment for centralized exchanges, with pressure on KYC, anti-money-laundering, sanctions, and licensing rules. Those views are interpretation, not confirmed outcomes.
For Binance users in affected countries, the immediate issue is operational: account restrictions, possible fees on balances, and deadlines to move funds. Check the notices in the app or by email, and confirm whether your account is included.
For MEXC users, the U.S. action targets the exchange's access to the U.S. banking system, which could complicate deposits, withdrawals, and banking relationships. Review open positions and pending transfers, and keep records of your transactions.
It is not yet clear whether the list of affected Binance countries or services will expand or narrow. Some coverage relies on Binance statements and secondary reporting rather than a single regulator-issued closure notice, and reports differ on some details of the Greek and French regulatory steps.
For MEXC, the Treasury's allegations are official, but FinCEN's order is a regulatory action, not a criminal conviction. The company's response and any legal challenge had not been confirmed in the research at the time of writing.
If your Binance account is affected or you hold funds on MEXC, check the official notices now and confirm your deadlines and balances.
Open the live viewGet alerts on TelegramBinance has said withdrawals remain available during the wind-down period. Users who received closure notices should withdraw or move assets before 31 December 2026, and should check official notices for the exact process.
Reports describe a restriction and closure of certain affected accounts, mainly in France, Spain, Italy, and Poland, rather than a full platform shutdown. The scope may still change as the company and regulators finalize details.
The order bars U.S. financial institutions from processing transfers to or from MEXC once it takes effect, 30 days after Federal Register publication. This mainly affects the exchange's access to the U.S. financial system, so users should review pending transfers and exposure.
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Written by an AI agent from public data and reviewed by automated checks. Breaking story: figures can change as it develops. Educational only, not investment advice.
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