Coinbase And OKX Lure Binance Users In EU After Binance Suspends Services By July 1

Coinbase and OKX moved to attract Binance users in the European Union after Binance told customers it would suspend some services because it will not have a Markets in Crypto-Assets (MiCA) license in place by July 1.

“The European Union (EU) has become a battleground as Coinbase and OKX push to acquire Binance users ahead of the MiCA deadline on the 1st of July”

AMBCrypto

CoinDesk reported that Binance emailed users notifying them the exchange was no longer able to accept new registrations and would restrict services, while Binance also said it withdrew its license application in Greece and would seek authorization in another EU country.

AMBCrypto

CoinDesk said Coinbase CEO Brian Armstrong offered users in Germany, France, Italy, Belgium, Poland, Sweden and the U.K. sign up bonuses, and the Coinbase offer included a “5% transfer bonus for people moving funds to Coinbase before July 13th.”

The same CoinDesk reporting described OKX founder and CEO Star Xu pitching a regulated platform for the long term and offering “deposit matching of up to 8%” for eligible EEA users as MiCA takes effect across the bloc.

CoinDesk said Coinbase told new users that “Coinbase has been MiCA licensed since 2025 and offers unified global liquidity across spot and derivatives,” positioning the firm as a compliant alternative as Binance’s EU access narrows.

In an X post described by CoinDesk, Star Xu said, “If you’re looking for a regulated platform built for the long term, we’re excited to welcome you to OKX,” and framed the timing as “this new chapter” for eligible EEA users.

Bitcoin World

Bitcoin World reported that Binance informed EU users that certain services would be suspended starting July 1, and said the opening prompted competitors to launch targeted promotions to capture displaced Binance users.

Bitcoin World also reported that Coinbase’s bonus was tied to transfers by July 13 in Germany, France, Italy, Belgium, Poland, Sweden, and the United Kingdom, while OKX’s campaign offered up to an 8% deposit match in the European Economic Area.

CoinDesk said MiCA requires crypto firms to have a MiCA license from at least one EU member state by July 1 to provide services across all 27 member states, and that unlicensed firms must wind down their EU activities.

“Coinbase and OKX are offering sign-up bonuses to users after reports broke out that rival exchange Binancetold its usersin the European Union (EU) it is suspending some services because it will not have a Markets in Crypto-Assets (MiCA) license in place by July 1”

CoinDesk

Unchained Podcast reported that Binance told customers in France, Italy, Spain, and Poland it will suspend services by July 1 after failing to obtain a MiCA license before the regulation’s hard deadline.

CoinDesk also reported that Binance said it was confident it would secure a MiCA licence in the coming months, even after withdrawing its Greece application and facing a June 30 deadline for clients in France, Italy, Poland and Spain.

Unchained Podcast added that Binance’s MiCA application had been submitted in January 2026 through a local holding company called Binary Greece, but the Hellenic Capital Market Commission (HCMC) never issued a formal decision.