Key takeaways
Reported: Italian customers of Binance Italy S.r.l. have been emailed that their accounts close on 31 December 2026, according to Criptovaluta.it, which quotes the message. Binance's spokesperson confirmed that "affected accounts" close on that date but did not name Italy.
Already restricted: since 1 July 2026, deposits, spot trading and other services have been off for these accounts. Only withdrawals of euros and crypto remain, and new sign-ups are blocked.
Fee snapshots: according to the emails, crypto still held at 23:59 UTC on 29 November and 24 December 2026 is charged 0.025% or 10 USDC, whichever is higher.
Regulatory context: CONSOB and the Bank of Italy say firms without a MiCA authorisation must now limit themselves to winding down client relationships.
Affiliate disclosure: Crypto University may earn a commission if you sign up through some links in this article, at no extra cost to you. This does not affect our assessment.
Binance's Italian customers are heading into the final weeks of a wind-down that began in the summer. According to emails reported by Italian outlet Criptovaluta.it on 7 November 2026, accounts close on 31 December 2026, with fees on remaining crypto from late November.
Below we answer the questions Italian readers are asking: what the email says, how certain it is, why it is happening, and what to do before the first fee snapshot.
What does the email say?
Criptovaluta.it, which says the email reached most of Binance's Italian users, lists three dates. Accounts close on 31 December 2026, a first monthly fee is applied on 29 November 2026, and a second follows on 24 December 2026. It also quotes Binance's message on its licensing plans:
«Binance continua a impegnarsi per ottenere un'autorizzazione ai sensi del MiCA al fine di offrire servizi per cripto-asset in Europa in conformità con i relativi requisiti, e ti terremo aggiornato su eventuali sviluppi in merito.»
In English: Binance is still working to obtain a MiCA authorisation so it can offer crypto-asset services in Europe, and will keep you updated.
According to the email campaign, the fee is 0.025% of the crypto balance or 10 USDC, whichever is higher. It is calculated at 23:59 UTC on each date, which is 00:59 the next day in Rome. It is taken within three days, from USDC first. A balance below the fee is taken in full, and an account emptied before 29 November pays nothing. The 23:59 UTC timing comes from the notice text published by Bankier.pl. Binance has not published these fees in a public announcement.
How sure is this for Italy?
The closure date itself is on the record. A Binance spokesperson told CoinDesk that "affected accounts will be closed with effect from 31 December 2026", that deposits are blocked, that withdrawals remain open and that there is "no sudden freeze". The spokesperson did not list countries. Italy's inclusion rests on the customer email as reproduced by Italian press, and CoinDesk also reports Italian users receiving it. We have not seen a public Binance announcement specific to Italy.
Why is it happening in Italy?
Before MiCA, an entry in the OAM register of virtual-currency operators was enough to serve Italian clients, and Binance Italy S.r.l. was registered there. Italy's transition ran until 30 June 2026, and only for firms that had applied for MiCA authorisation by 30 December 2025 (OAM notice on Decree-Law 95/2025).
On 30 June 2026, CONSOB and the Bank of Italy said operators without MiCA authorisation in at least one EU country "devono cessare la propria attività", limiting themselves to closing client relationships and allowing transfers or liquidation (CONSOB–Banca d'Italia joint statement). Binance was not among the eight Italian CASPs, or Banca Sella's notification, named that day. It withdrew its Greek application on 24 June 2026 (Binance blog), and it is not in ESMA's register of authorised providers.
What to do before 29 November
Check that your account is with Binance Italy. Look at the entity named in your account terms and in the email itself. Binance tells users to watch their email and in-app notices and to contact Binance support with questions.
Download your records. Export the full trade, deposit, withdrawal and conversion history. Italian taxpayers generally need to report crypto holdings and realised gains in the annual return, and this history is the evidence behind those figures. Confirm the details with a commercialista or the Agenzia delle Entrate.
Withdraw in stages. Send a small test amount, check the network and address, then move the balance. Withdraw euros by SEPA to an IBAN in your own name. Our step-by-step checklist covers the details.
Treat "urgent" emails with suspicion. Fake closure notices will circulate. Open the official app directly and never share passwords, 2FA codes or seed phrases.
Verify the next platform on the ESMA register, and check that Italy is among its host states. CONSOB specifically warns readers to check which legal entity actually provides the service.
Which MiCA-authorised exchanges can serve Italy?
Italy also has its own CONSOB-authorised providers, listed in the CONSOB statement linked above.
All three exchanges below run an EU entity authorised under MiCA, and the ESMA CASP register (updated 5 November 2026) lists Italy among each entity's host states, so each can serve Italy under the MiCA passport.
Name | EU entity and regulator | Spot fees (entry tier) | Best for |
|---|---|---|---|
OKX Europe Ltd, MFSA (Malta) | 0.20% / 0.35% | Low-fee spot | |
Payward Europe Solutions, CBI (Ireland) | 0.40% / 0.80% | EUR transfers | |
Bybit EU GmbH, FMA (Austria) | 0.25% flat | One simple rate |
EUR by SEPA:
OKX: no OKX fee on SEPA withdrawals (your bank may charge); check deposit costs on its SEPA deposit and withdrawal pages.
Kraken: €1 per SEPA withdrawal, €0.90 for Instant SEPA via ClearJunction; see its withdrawal and deposit fee pages.
Bybit: SEPA is "only supported for users in certain EU countries" and fees are shown in-app; see its deposit and withdrawal pages.
Fees are maker / taker for spot trading at the entry tier, checked 10 November 2026 on each exchange's official fee page: OKX (fee page), Kraken (fee page), Bybit (fee page). Kraken's rate is for Kraken Pro; its app's instant buy charges 1% plus a spread. CBI is the Central Bank of Ireland. OKX's entry-tier rate drops to 0.080% / 0.100% if you also open a derivatives (X-Perps) account. Bybit has had no maker/taker split since 5 October 2026. Higher tiers pay less, and spreads, network fees and bank charges can apply on top.
To check the entities yourself, open their entries in the Crypto University MiCA tracker: OKX (tracker entry) and Bybit (tracker entry). For Kraken, use the ESMA register directly: the retail entity is Payward Europe Solutions Ltd (LEI 254900641D8KNHUZYX24).
Our assessment: OKX
Who it suits: Italy-based readers who want a full order-book exchange, run from a Malta-authorised EU entity, with no OKX fee on SEPA withdrawals. Trade-off: the lowest entry-tier spot rates (0.080% / 0.100%) apply only if you also open a derivatives account. Without one, it's 0.200% / 0.350%. Opening a derivatives account just to reduce fees adds access to riskier products, so weigh that first. Test first: a small SEPA deposit, then a small withdrawal back to the same IBAN. Check OKX
Our assessment: Kraken
Who it suits: readers who value a long-running exchange, Irish authorisation and clearly published EUR withdrawal costs. Trade-off: Kraken Pro's entry-tier spot fees (0.40% / 0.80%) are the highest of the three, and the app's instant buy charges 1% plus a spread. SEPA withdrawals cost €1. Test first: check that your account shows Payward Europe Solutions Ltd as the provider, and use limit orders on Kraken Pro rather than instant buy. Check Kraken
Our assessment: Bybit
Who it suits: readers who want one flat 0.25% spot rate with no maker/taker maths. Trade-off: Bybit EU says SEPA works only in certain EU countries and shows fees only inside the app, so confirm availability in Italy before you move money. Important: the MiCA-authorised entity is Bybit EU GmbH. Make sure you sign up on the EU platform and that your account terms name Bybit EU GmbH, not the global platform. Check Bybit
Sponsored
Moving off Binance in Italy? OKX Europe Ltd is authorised under MiCA by Malta's MFSA and passported to Italy. See OKX Europe
What we still don't know
Binance has not said how many Italian accounts are affected, or whether any Italian residents are served by other Binance entities.
The exact time on 31 December when accounts close has not been stated.
Binance has not named the member state where it will reapply. Until an authorisation appears on the ESMA register, it can't serve Italian clients under MiCA.
The scope is narrower than some social posts suggest. The notices concern the former local entities, and other EU users are served by a non-EU Binance entity, an arrangement that EU regulators are examining.
Related reading
Sources
Criptovaluta.it · CoinDesk · CONSOB–Banca d'Italia joint statement · OAM notice on DL 95/2025 · ESMA CASP register · Binance blog, 24 June 2026 · Bankier.pl
Last reviewed: 10 November 2026.
This article is for educational purposes only and is not financial advice. It is not investment, legal or tax advice, and nothing here is a recommendation to buy or sell any asset or use any platform. Check the details with primary sources and your own adviser. Crypto-assets carry risk, including the permanent loss of funds.
