Coinbase and OKX Offer Bonuses to Lure Binance’s EU Users After MiCA License Failure

Within hours of Binance telling EU users it would suspend certain crypto services from July 1, Coinbase and OKX were already in their inboxes with sign-up bonuses.

Coinbase CEO Brian Armstrong posted on X Friday evening offering bonuses to users in Germany, France, Italy, Belgium, Poland, Sweden and the UK. The exchange which has held a MiCA license since 2025 is offering a 5% transfer bonus for anyone moving funds to Coinbase before July 13.

OKX founder and CEO Star Xu followed up Saturday, calling MiCA the start of a new era for crypto in Europe. He offered eligible EEA users welcome bonuses and deposit matching of up to 8% as part of what he called one of OKX’s biggest welcome campaigns.

What Happened to Binance

Binance emailed users in France, Italy, Poland and Spain notifying them it can no longer accept new registrations and will restrict services ahead of the July 1 deadline. The company had withdrawn its MiCA application in Greece earlier in the week and said it was seeking authorization in another EU member state. It assured users that all assets remain safe and accessible.

“Our ambitions in Europe remain the same, and we are confident we will secure a MiCA licence in the coming months,” a Binance spokesperson said.

Under MiCA rules, crypto firms must hold a license from at least one EU member state by July 1 to operate across all 27 member states. Firms without a license must wind down EU activities immediately.