Key facts
- Binance will suspend some services in the EU from July 1 due to lacking a MiCA license.
- Coinbase is offering a 5% transfer bonus to new users moving funds before July 13.
- OKX is offering welcome bonuses and deposit matching up to 8% for eligible EEA users.
- Binance withdrew its Greek license application and is seeking authorization elsewhere in the EU.
- Crypto firms need a MiCA license by July 1 to operate across all 27 EU member states.
Coinbase and OKX are actively seeking to attract users from Binance, which is set to suspend certain services in the European Union from July 1 due to its failure to obtain a Markets in Crypto-Assets (MiCA) license by the regulatory deadline.
Binance informed its clients in countries including France, Italy, Poland, and Spain that it would no longer be able to accept new registrations and would restrict services. The company has withdrawn its license application in Greece and is pursuing authorization in another EU member state, with a spokesperson stating that ambitions in Europe remain unchanged and a MiCA license is expected in the coming months.
In response, Coinbase is offering a 5% transfer bonus to new users in several major European markets and the UK who move funds to its platform before July 13. Coinbase highlights its own MiCA licensing since 2025 and unified global liquidity. OKX is also launching a significant welcome campaign for eligible users in the European Economic Area, including bonuses and deposit matching of up to 8%, positioning itself as a long-term regulated alternative.
Firms must hold a MiCA license from at least one EU member state by July 1 to offer services across all 27 member states, requiring unlicensed entities to cease EU operations.