Binance users face a year-end crypto withdrawal deadline

Binance users in some European countries told to pull crypto before fees kick in with accounts closing by year end.

Affected accounts are reportedly set to close on December 31st. That's New Year's.

Users in Spain, France and Poland say they've received similar notices.

So, listen, this is a follow-up on a story we already knew existed, right?

Binance lacks Meka authorization. They thought that they were going to get in under the deadline with uh licensing in Greece, and if you get licensing in one country, then you have licensing across the entire European uh area.

That did not happen. We know that Christine Lagarde herself, the head of the European Central Bank stepped in and basically told the Greeks to block that. Interesting.

But there's this strange, awkward transition period where Binance still has obviously probably millions of customers in Europe. I I don't know the exact amount, who all need to slowly get their coins off of exchange and make other decisions while Binance still tries to become compliant so that they theoretically wouldn't have to do it.

But as of right now, Binance still lacks that Meka authorization.

So, basically there's going to be a very small monthly fee for people who still keep their coins on. You cannot deposit at all, but they're telling you that you absolutely have to withdraw all of these coins.

If you are European and you are still using Binance, do not passively just let this happen.

Go ahead, take your coins off. If Binance gets their licensing, you can put those coins back on, but for now, seems pretty clear what you need to do.