If your money was sitting on Binance, since 1 July 2026 you will have run into the message: you cannot buy, you cannot deposit, you cannot trade. Only sell and withdraw.
The short answer: your funds are not frozen and you can take them out. Download your full history first, pick a licensed platform (Bit2Me, Coinbase or Kraken are the ones we recommend), send your crypto there rather than selling it — sending pays no tax, selling does — and do not leave your money waiting for Binance to come back, because there is no date.
Now the detail, in the order you need to do it.
What to do now: the five steps
- Download your full Binance history. Before you move a single euro. It is the one thing that cannot be fixed if you lose it.
- Open an account on a licensed platform and verify your identity. It takes a few hours, so do it before you need it.
- Send a small test first. €20 or €30 in a single coin, check that it arrives, and only then move the rest.
- Send your crypto, do not sell it — unless going out to euros is exactly what you want. Sending pays no tax; selling does.
- Empty your euro balance too by transfer to your bank, and leave the account open but at zero.
The most expensive mistake: selling everything to euros on Binance, moving the money to your bank and buying again on the new platform. Doing that means paying tax on every bit of accumulated gain at once, for no reason whatsoever. If you want to keep holding crypto, move it, do not sell it.
Quick summary
| Question | Answer |
|---|---|
| Are my funds frozen? | No. You can withdraw euros and crypto |
| How long do I have to take it out? | No deadline has been announced, but do not leave it hanging |
| Can I still buy? | No. Selling and withdrawing only |
| How do I take it out without paying tax? | By sending the crypto to another platform or wallet, rather than selling it |
| Where do I take it? | To a platform with a MiCA licence (full list below) |
| Will Binance come back to Spain? | It has applied for a licence in another EU country, but as of August 2026 it does not have one |
| Do I have to do anything with the tax agency? | Yes. The shutdown itself has generated transactions that belong in your tax return |
How to get your money out of Binance: the two routes
Here is the decision that can cost you the most money, and almost nobody explains it. You have two ways of taking out what you hold, and they are not equivalent.
Route A: send your crypto (recommended)
You send your bitcoin, ether or whatever you hold straight to another platform or to your own wallet. You still hold the same coins, they have simply changed address.
The decisive advantage: a transfer between accounts that are both yours pays no tax. You have sold nothing, so there is no gain to declare.
How to do it without losing money on the way:
- On the new platform, go to “Deposit”, pick the coin and copy the address.
- Note the network it tells you to use (Bitcoin, Ethereum/ERC-20, Tron/TRC-20, BSC/BEP-20, and so on). This is the critical point.
- On Binance, under “Withdraw”, paste the address and select exactly that same network.
- Send a small test amount. Wait for it to arrive.
- Once you have confirmed it arrived, send the rest.
Picking the wrong network is the mistake that genuinely loses people their funds. If you send over a network the destination platform does not support, the money may never arrive and getting it back ranges from “very hard” to “impossible”. And the fee difference between networks is enormous: sending stablecoins over Ethereum can cost you several euros, and over Tron or BSC, cents. Always check which networks the destination supports before you send.
Bear in mind, too, that many platforms require you to confirm the address by email or authenticator app the first time, and some hold it for a few hours as a security measure. Do not leave it until the last minute.
Route B: sell to euros and transfer to your bank
You convert everything to euros inside Binance and make a transfer to your bank account.
When it makes sense: only if you genuinely want to stop holding crypto. It is the clean exit for anyone who was already thinking about it.
The cost you need to know about: when you sell, you pay tax. Every sale goes into your Renta 2026, the return you will file in 2027, and you are taxed on the difference between what it cost you and what you receive. If you have been accumulating gains for years, this route can carry a considerable bill.
If you choose this route anyway, do it with the numbers in front of you. And if you are sitting on losses, think about whether it is worth crystallising them: losses can be offset over the following four years, but only if you declare them.
And the euro balance you already had
That one you simply withdraw by transfer. Money that was already in euros generates no tax when you move it: it is already yours and it has already been taxed.
Before anything else: download your history
It is step 1 for a reason. When a platform winds down its operations in a country, access to the history is the first thing to degrade: download ranges get shorter, old data is archived, support stops answering.
And you are going to need that history for the next four years at least, which is how long the Spanish tax agency has to review you.
Without it you cannot:
- Know what the crypto you are moving cost you, which is what determines whether you gain or lose when you sell
- Know what you bought first and at what price, the order the tax agency requires you to follow (the FIFO method)
- Prove where the money came from if a formal demand from the tax agency lands on your doormat
Download everything: trades, deposits and withdrawals, conversions, fees and rewards. Keep it in two separate places.
Step-by-step guide to downloading your Binance history →
Do not close the account. Even once it is at zero, keep it open for as long as you can still reach the history. Closing it erases nothing as far as the tax agency is concerned — the data for previous years has already been reported — but it does leave you without your own documentation.
Alternatives to Binance: exchanges with a MiCA licence in Spain
As of July 2026 there are around 280 authorised providers across the whole EU, out of more than 1,200 that started the process. Of the 100 largest exchanges in the world, only a minority have made it through.
These are the main ones that do hold a licence and can serve you legally in Spain:
| Exchange | Authorised entity | Country / regulator |
|---|---|---|
 Bit2Me Recommended | Bitcoinforme S.L. | 🇪🇸 Spain (CNMV) |
 Coinbase Recommended | Coinbase Luxembourg S.A. | 🇱🇺 Luxembourg (CSSF) |
 Kraken Recommended | Payward Europe Solutions Ltd. | 🇮🇪 Ireland (CBI) |
 Bitvavo | Bitvavo B.V. | 🇳🇱 Netherlands (AFM) |
 Bitpanda | Bitpanda GmbH | 🇦🇹 Austria (FMA) |
 Bybit | Bybit EU GmbH | 🇦🇹 Austria (FMA) |
 OKX | OKX Europe Limited | 🇲🇹 Malta (MFSA) |
 Crypto.com | Foris DAX MT Limited | 🇲🇹 Malta (MFSA) |
 Gemini | Gemini Intergalactic EU Ltd. | 🇲🇹 Malta (MFSA) |
 Bitstamp | Bitstamp Europe S.A. | 🇱🇺 Luxembourg (CSSF) |
 KuCoin | KuCoin EU Exchange GmbH | 🇦🇹 Austria (FMA) |
Alongside Bit2Me, the CNMV has authorised several Spanish banks (BBVA, CaixaBank, Kutxabank, Openbank, Renta 4 and Cecabank) and fintechs such as Criptan, Crossmint, Minos and Fazil Crypto.
Exchanges that do not hold a licence either
Do not make the mistake of jumping from Binance to another platform in exactly the same position. These, among others, do not appear in the register of authorised providers either:
| Exchange | Situation |
|---|---|
 Bitget | No licence. It applied for authorisation in Austria, but has announced it will not provide services until it obtains one |
 MEXC | No licence |
 CEX.IO | No licence |
Check it for yourself before you sign up. The ESMA register is updated weekly and is the only reliable source: consult the ESMA register of providers and the CNMV one. A platform being “registered with the Bank of Spain” does not mean it holds a MiCA licence.
How to choose your new exchange: five criteria
Holding a licence is the minimum, not the criterion. Once the unauthorised platforms are out of the picture, this is what genuinely sets the rest apart:
1. That you can download your history easily. It sounds dull and it is what you will be most grateful for in April. Every year you will need the full list of your transactions for your tax return. Some platforms hand it over in two clicks; on others it is an odyssey. Before you put money in, go into the reports section and check that you can export it.
2. Real fees, not advertised ones. Look at three figures, not one: the buy/sell commission, the exchange spread (which often weighs more than the commission itself) and what they charge you to send euros to your bank. Some advertise “0% commission” and take the lot through the spread.
3. How you get euros in and out. Free SEPA transfers, card, Bizum… and above all how long the money takes to reach your account. It is the part that causes the most headaches and the one people look at least when signing up.
4. Support with real people behind it. When something goes wrong with your money, this stops being a detail. Spanish platforms and the big European ones usually offer support in Spanish; some international ones, only in English and through a chatbot.
5. That it lists what you actually use. If you only buy and hold bitcoin or ethereum, any of the platforms on the list will do and you should choose on the four points above. If you trade small coins, check first that they are available: regulated platforms list a good deal fewer than Binance did.
A word from someone who sees hundreds of portfolios a year: do not spread your crypto across five platforms “to diversify”. You are not diversifying risk, you are multiplying paperwork. Every extra platform is one more history to download and reconcile every year.
The four best options after Binance’s exit, and who each one is for
Option 1: a Spanish exchange with a CNMV licence
Who it is for: most people. If you buy, hold and sell from time to time, this is your option.
Main advantage: everything in euros and in Spanish, CNMV supervision and transfers with the bank you have always used. The lowest-friction option for anyone who does not want complications.
The trade-off: fewer coins available and fewer products than Binance. If you only hold BTC or ETH, it makes no difference. If you trade small coins, it will feel tight.
How to export your Bit2Me history →
Option 2: a large European exchange with a MiCA licence
Who it is for: anyone who needs more market, more coins or advanced tools.
Main advantage: Kraken, Coinbase and Bitvavo are mature platforms, with plenty of liquidity and their licence in order.
The trade-off: more complex interfaces and, on some, support in English only. If you used Binance without trouble, you will adapt easily; if you got lost on it, option 1 is the better fit.
We have history-export guides for the main ones: Coinbase, Kraken, Bitvavo, OKX, Bybit, Crypto.com and KuCoin.
Option 3: self-custody (your own wallet)
Who it is for: anyone holding a long-term position who does not need to trade.
Main advantage: it is the only option in which no intermediary can shut off your access. What has just happened with Binance cannot happen to you again.
The trade-off: the responsibility is 100% yours. If you lose your keys, that is the end of it: there is no customer service to recover them. And rebuilding your history for your tax return is more of a chore than downloading a CSV.
Important: holding your crypto in your own wallet does not make it invisible. The tax agency has ways of tracing it, and with DAC8 the net is tightening. If you sell or collect rewards, you are taxed just the same.
Guide to exporting your wallet history →
Option 4: sell up and go out to euros
Who it is for: anyone who was already having doubts about their crypto exposure and sees an orderly exit here.
Main advantage: complete simplicity. Subject closed.
The trade-off, and it is a big one: you pay tax on the entire accumulated gain, all at once and in the same tax year. It is route B described above.
What still works on Binance and what does not
So you know what you will find when you log in:
No longer working
- Spot trading: no new orders can be placed. Those left open before 1 July were executed for 48 hours and then cancelled automatically
- Trading bots and margin trading: closed
- Simple Earn: no new subscriptions
- ETH and SOL staking: cancelled
- Binance Loans: suspended
- RWUSD: automatically redeemed for USDC
- Binance Pay: suspended since 1 July
- P2P: gone as of 30 June
- Binance Pool, Launchpad and Launchpool: closed
Still working
- Withdrawing euros and crypto, with no announced time limit
- Converting to euros or USDC to wind down positions
- Logging into your account and downloading your history
Binance has stated that funds will not be frozen. But it warns expressly that no new deposits should be made from that date.
Why this has happened
MiCA (Markets in Crypto-Assets) is the regulation that unifies the sector’s rules across the whole European Union. Since 1 July 2026, any platform wanting to serve EU residents needs a licence granted by a national supervisor. In Spain, the CNMV.
What matters is that a licence granted in any EU country is valid in all 27. Binance only had to obtain one somewhere.
| Date | What happened |
|---|---|
| January 2026 | Binance applies for a licence in Greece, through a subsidiary |
| 16 June 2026 | Reuters reports that the Greek supervisor was preparing to reject the application |
| 24 June 2026 | Binance voluntarily withdraws the application, six days before the deadline |
| 30 June 2026 | End of the transitional period in Spain |
| 1 July 2026 | Binance ceases activity in Spain and other EU countries |
Withdrawing the application has its logic: a voluntary withdrawal does not close the door; a formal rejection tarnishes it. A Greek “no” would have stayed on file and complicated any later attempt in another country.
Binance says it expects to obtain authorisation in another member state “in the coming months”. But as of August 2026 it has not announced which country, holds no licence and does not appear in the ESMA register.
Be wary of promises of a return. Until Binance appears in ESMA’s public register, any return date you read is speculation. Do not leave your money there counting on it.
Careful: the shutdown has generated tax for you without your knowing
This is the point that worries us most ahead of the 2026 tax return, because it affects people who swear they have touched nothing.
Moving your crypto to another platform or to your own wallet is NOT taxed. Taking it out of one place and putting it into another that is also yours is not a sale: you still hold the same thing. Just make a note of the network fee on the transfer, because it counts in your favour when you sell.
But the shutdown triggered, automatically and without you doing anything, transactions that do count:
-
The automatic conversion of RWUSD into USDC. Swapping one crypto for another counts as if you had sold, even though you never saw a euro in the bank. You did not choose it, but it is done.
-
The cancellation of ETH and SOL staking. Staking rewards are declared when you receive them, not when you sell them. If you were given back what was locked plus the rewards, there is something to declare there.
-
Any conversions to euros or USDC you made to wind the money down. They all count.
-
The unwinding of Simple Earn, Loans and locked products. Check what was liquidated and at what value.
In plain terms: plenty of people who “have not traded” in 2026 will have to declare transactions anyway, because Binance’s own shutdown generated them. Download your history and check.
Frequently asked questions
How long do I have to get my money out of Binance?
Binance has not announced a deadline and states that funds will not be frozen. Even so, it is unwise to leave it hanging: keeping a balance on a platform that is no longer authorised in your country leaves you outside the protections MiCA is meant to give you, and you do not know how its situation will develop.
Am I charged for taking the money out?
Withdrawing euros by transfer is usually free or close to it. Sending crypto always carries a network fee, and it varies enormously depending on the network you choose: over Ethereum it can cost several euros, and over Tron or BSC, cents. Check which networks the destination platform supports before you send.
Is it better to sell everything to euros or to send the crypto?
If you want to keep holding crypto, send it. Selling in order to buy again somewhere else makes you pay tax on the whole accumulated gain for no reason at all. Selling only makes sense if you genuinely want to stop being exposed to crypto.
Can I send the crypto straight from Binance to another platform?
Yes, that is the normal and the recommended route. Ask for the deposit address on the new platform, look carefully at the network it indicates and use that same network when you withdraw from Binance. Always send a small test amount first.
What if I use a VPN to carry on trading?
Bad idea. You breach the terms of service — with the risk of your account and funds being blocked — you step outside MiCA’s umbrella and you escape nothing on the tax side: if you are resident in Spain, you are taxed in Spain whatever your IP address says.
When is Binance coming back to Spain?
There is no date. It has said it will apply for a licence in another member state, but as of August 2026 it has announced neither the country nor a granted authorisation. Once it obtains one, it will appear in the ESMA register.
Do I have to declare the transfer to another platform?
The transfer itself generates neither gain nor loss, so you pay nothing on it. But keep the audit trail — origin, destination, date, amount and fee — because what that crypto cost you travels with it and you will need it the day you sell.
I only have a few hundred euros. Should I be worried?
For choosing a platform, no: any on the list will do and you can decide on fees. For the tax agency, yes: there is no threshold below which sales stop being declarable. If you have sold or swapped one crypto for another, it goes in your tax return however small the amounts.
Are Bitget or MEXC valid alternatives?
They hold no licence. They would be in exactly the same position as Binance. Check the ESMA register before signing up to any platform.
Need help sorting out your position after the Binance shutdown?
The shutdown leaves plenty of people with their history split across two platforms and with automatic transactions they never asked for.
At Cryptoimpuestos we help you obtain your Binance history and your new platform’s — guiding you step by step if you get stuck — unify all your activity, calculate your real gains and losses, identify the transactions the shutdown itself generated and leave your tax return ready to file.
See our plans for individuals →
Last updated: 6 August 2026. Binance’s regulatory situation in the EU is evolving. Always check the current status in the ESMA register before making decisions.
Víctor Lázaro
Tax adviser, Cryptoimpuestos.es
