Binance users in some European countries are receiving emails urging them to withdraw their crypto before monthly fees kick in on Nov. 29, with accounts set to close at the end of the year.

A Binance spokesperson told CoinDesk the exchange is "progressively restricting certain services for affected users" following the end of the transition period under the European Union's Markets in Crypto-Assets (MiCA) rules.

"Affected accounts will be closed with effect from 31 December 2026," the spokesperson said, describing it as "a carefully managed process."

The exchange laid out the deadlines in an email sent to customers. Various users on X have shared the email they received, stating that deposits have been blocked but customers can still withdraw their funds.

Some users outside France, including those in Spain, Italy and Poland, have said they’ve also received emails about the closure.

The exchange noted that deposits are blocked, but customers can still withdraw their crypto and fiat balances, the spokesperson said, adding that users’ assets remain safe and accessible and that there is "no sudden freeze."

In June, Binance first contacted users in France, Spain, Italy and Poland, urging them to withdraw. Those are countries where it ran locally registered businesses before MiCA's transition period ended.

Users in countries where Binance had no local entity, including Portugal, haven't been singled out in the same way, though they remain subject to the broader EU restrictions, according to Portuguese newspaper Expresso.

Starting Nov. 29, Binance will charge users 0.025% of their remaining crypto balance each month, or 10 USDC, whichever is higher. The first charge will be taken within three days of Nov. 29, and a second charge will be taken after Dec. 24. Accounts with less than the fee will have their entire balance taken, according to the emails from Binance to the users.

France's financial regulator, the Autorité des marchés financiers (AMF), lists Binance France's registration, which has been held since May 2022, as having lapsed automatically on July 2. That's when France's national registration regime ended and more than 50 providers without a MiCA license, including Gemini's European unit, were removed.

While the email hasn’t been confirmed, Binance’s terms on the website state that it may “charge a dormant account fee which may be to cover the cost of maintaining the Digital Assets with any Binance Affiliate or any third party, with such fee to be withdrawn directly from the dormant account on a monthly basis.”