Your Coinbase or Binance Account After Death: What Expats in Europe Need to Know

In brief: Most expats in Europe have crypto sitting on exchanges — but few have thought about what happens to those accounts when they die. This guide explains what exchange platforms actually do with your funds, why expat status adds complexity, and how to protect your family before it's too late.

This article is for informational purposes only and does not constitute legal, tax, or financial advice. For your specific situation, consult a notary or lawyer specialised in cross-border succession.

The Expat Crypto Problem Nobody Talks About

Maria is a French software engineer who moved to Barcelona in 2019. She has a Spanish notary-drafted will, a Spanish NIE, and a rented apartment near Poble Sec. She also has €18,000 worth of ETH sitting on Coinbase and a Ledger hardware wallet tucked in her desk drawer.

Her partner knows the Coinbase password is "somewhere in her phone." Her notary has never asked about digital assets. And her will — drafted entirely under Spanish law — doesn't mention any of it.

This situation is far more common than most expats realise. According to recent surveys, over 30% of European adults under 50 hold some form of cryptocurrency. Among the expat community — typically younger, more digitally native, and more internationally mobile — that figure is likely higher. Yet estate planning for digital assets, particularly exchange accounts, remains a critical blind spot.

The problem isn't just emotional. It's practical, legal, and increasingly financial.

What Actually Happens to Your Exchange Account When You Die

When an account holder dies, cryptocurrency exchanges don't automatically freeze or release funds. The reality is messier — and the outcome depends heavily on the platform and on how quickly your heirs act.

The general process on major platforms:

Coinbase: Requires heirs to submit a death certificate, proof of identity, and — where applicable — probate documentation. The process can take several weeks and may require documents translated and apostilled. Coinbase does not allow direct wallet access; heirs must go through formal succession claims.
Binance: Similar process, requiring KYC documentation from the heir, death certificate, and in many jurisdictions, a court order or notarised inheritance certificate. Binance accounts in Europe are subject to local regulatory requirements which vary by country.
Kraken: Publishes a specific "deceased account holder" procedure. Heirs must submit a request through customer support with extensive documentation. Kraken warns that processing times are "case by case."

The critical issue for expats: These platforms will ask for documentation that matches the deceased's registered residency. If you registered your Coinbase account with a UK address but have been living in Spain for five years — and your official residence is now Spain — there is an immediate mismatch. Your heirs will need to navigate both the platform's process and potentially conflicting legal jurisdictions.

The Legal Layer: EU Regulation 650/2012 and Digital Assets

EU Succession Regulation No 650/2012, which came into force in August 2015, is the cornerstone framework for cross-border inheritance in Europe. It establishes that, as a general rule, the law of the country where you were habitually resident at the time of death governs your estate.

This sounds simple. For crypto exchange accounts, it creates immediate complexity:

Which country's law applies? If you are a French national resident in Spain, Spanish succession law governs your estate by default (unless you have explicitly opted for French law in your will, which is permitted under the Regulation).

Is cryptocurrency a "movable" or "immovable" asset? Courts and tax authorities across Europe are still working through this. In Spain, the Agencia Tributaria treats crypto as a movable asset subject to Impuesto sobre Sucesiones y Donaciones. The rate depends on the autonomous community and the heir's relationship to the deceased.

Where is the asset "located"? For traditional bank accounts, the answer is clear. For a Coinbase account, the question is unsettled — is it located where Coinbase is incorporated (USA), where the account holder lives, or where the servers are? This ambiguity can delay probate proceedings significantly.

Anti-money laundering (AML) requirements: Exchanges operating in the EU are now subject to the EU's AML framework (AMLD5 and the forthcoming MiCA regulation). When processing an inheritance, they may require additional documentation to satisfy KYC/AML rules — which can feel intrusive and slow to families already dealing with grief.

Practical implication: The European Succession Certificate is a formal document issued under the Regulation that allows heirs to prove their status across EU member states. Getting one should be among the first steps for any heir dealing with a deceased expat's estate — including their exchange accounts.

The Four Classic Mistakes Expats Make With Crypto on Exchanges

1. "My partner knows my password." Passwords alone are rarely sufficient. Exchanges require formal succession documentation regardless of whether a family member knows the login. A password without the 2FA device, recovery phrases, and account ID is often useless — and if a family member logs in without permission, they may trigger fraud alerts or account freezes.

2. "It's in my will." Mentioning cryptocurrency in a will is a start, but it's not enough. A will doesn't tell your heirs how to access the account, what documentation the exchange requires, or where your hardware wallet is. It also typically becomes public record during probate — not ideal for a list of digital assets.

3. "The exchange will sort it out." Exchanges have no legal obligation to proactively notify heirs. If no claim is made within a certain timeframe, some platforms may eventually hand dormant account assets over to national unclaimed property schemes — which varies by jurisdiction and is exceedingly difficult to reverse.

4. "I'll deal with it later." The average age at which expats first engage with estate planning is 52. The average age at which people acquire their first cryptocurrency is 34. There's an 18-year gap during which assets exist, grow — and remain entirely unplanned.

How Sucesio Completes Your Estate Plan for Digital Assets

Sucesio is designed as a complement to your will and notary — not a replacement. Where a traditional will tells your heirs what you own, Sucesio helps you organise and securely transmit how to access it.

For cryptocurrency exchange accounts specifically, Sucesio enables you to:

Securely store access instructions — not passwords themselves, but the information your heirs will need: the exchange platforms you use, the registered email addresses, the type of verification required, and where physical devices like hardware wallets are kept
Create a structured digital asset inventory — covering exchange accounts, self-custody wallets, DeFi positions, and NFTs, with clear notes on value and access complexity
Set up trusted beneficiary notifications — so that when the time comes, your designated heirs receive structured, actionable information rather than scattered clues
Document alongside your legal will — so your notary and your heirs are working from the same complete picture

This is particularly important for expats because the cross-border dimension adds time pressure. Probate proceedings in Spain or Portugal can take months; the longer exchange accounts sit unclaimed, the more complicated the recovery process becomes.

Sucesio fills the gap between what your notary writes and what your family actually needs to act.

A Step-by-Step Guide: What to Do Right Now

Step 1 — List every exchange account you hold Start with a complete inventory: Coinbase, Binance, Kraken, Bitstamp, Bitpanda, eToro — anywhere you hold crypto or have ever held it. Include accounts you haven't logged into recently; dormant accounts are still accounts.

Step 2 — Note the registered email and jurisdiction Check whether the email address on each account is current and accessible. Note whether the account was registered under your old address (pre-expat move) or your current residence address. Mismatches should be corrected now, before they become your family's problem.

Step 3 — Document your hardware wallets and recovery phrases If you hold crypto in self-custody (Ledger, Trezor, MetaMask), the recovery phrase is the only way to access the funds. Store it securely — not in the same location as the device, and not on any device connected to the internet. Note its location in your estate instructions.

Step 4 — Add a digital assets clause to your will Ask your notary to include a specific clause covering digital assets. It doesn't need to list every account — it simply needs to acknowledge their existence and direct heirs to your estate instruction document (which you maintain separately, via Sucesio or equivalent).

Step 5 — Inform your notary and your heirs Your notary should know that digital assets exist as part of your estate. Your designated heirs should know where to find the access instructions. Neither needs to know the specifics — just that they exist and where to look.

Step 6 — Review annually Crypto portfolios change. New platforms emerge. Accounts get consolidated. Set a reminder once a year — perhaps around your tax return date — to update your digital asset inventory.

Frequently Asked Questions

Can my heirs access my Coinbase account without going through probate? Generally, no. Major exchanges require formal succession documentation — typically a death certificate and proof of heirship — before releasing funds. The specific documents required vary by platform and by the laws of the country where you resided. Starting the process with the European Succession Certificate, where applicable, can significantly speed things up.

What if my exchange account was registered in another country before I moved to Spain? This is a common expat situation. In most cases, the exchange will require you to update your registered address to your current country of residence — something you can do proactively while still alive. Doing so before death makes the inheritance process considerably simpler for your heirs.

Are crypto assets subject to Spanish inheritance tax? Yes. Spain taxes crypto inherited by both residents and non-residents through the Impuesto sobre Sucesiones y Donaciones. The applicable rate depends on the autonomous community of residence, the value of the estate, and the heir's relationship to the deceased. Some communities (Andalusia, Madrid) offer significant reductions; others do not. See our guide to inheritance tax in Spain for expats for details.

What happens if nobody claims my exchange account? Platforms have varying policies on dormant accounts. Some will eventually freeze or transfer unclaimed assets to national unclaimed property schemes. Recovering such assets after the fact is legally complex and time-consuming — this is why proactive documentation matters.

Is a hardware wallet different from an exchange account for inheritance purposes? Yes, significantly. A hardware wallet with a recovery phrase is under your full personal control — it's essentially bearer assets. Whoever holds the recovery phrase can access the funds, with no platform intermediary. This means the inheritance process is simpler (no platform approval needed) but the security stakes are higher: if the recovery phrase is lost, the funds are permanently inaccessible.

This article is provided for informational purposes only and does not constitute legal, tax, or financial advice. Cryptocurrency regulations, exchange policies, and succession laws vary by country and change frequently. For any succession-related decisions, please consult a qualified notary, lawyer, or tax adviser in your country of residence.