Coinbase and OKX try to lure in Binance’s users after it failed to secure a MiCA license

Coinbase and OKX are offering sign-up bonuses to users after reports broke out that rival exchange Binance told its users in 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.

Brian Armstrong, CEO and founder of Coinbase, wrote on X Friday evening offering users in Germany, France, Italy, Belgium, Poland, Sweden and the U.K. sign up bonuses. He pointed to his firm’s website where the offers were explained in more detail.

“Coinbase has been MiCA licensed since 2025 and offers unified global liquidity across spot and derivatives,” the crypto exchange says in its offer to new users.

“We’re offering a 5% transfer bonus for people moving funds to Coinbase before July 13th,” it adds.

Star Xu, OKX founder and CEO, also offered bonuses to new users in Europe i n an X post on Saturday saying that MiCA marks the start of a new era for crypto in the region.

“If you’re looking for a regulated platform built for the long term, we’re excited to welcome you to OKX,” he said. “To celebrate this new chapter, we’re offering one of our biggest welcome campaigns for eligible EEA users, including welcome bonuses and deposit matching of up to 8%.”

Binance emailed its users notifying them the exchange was no longer able to accept new registrations and would restrict services, a spokesperson for the Abu Dhabi-based company told CoinDesk. "Your assets remain safe and secure, and will remain accessible at all times," the email said.

On Thursday, the company said it withdrew its license application in Greece and would seek authorization in another EU country.

However, in a statement to CoinDesk, Binance said its "ambitions in Europe remain the same, and we are confident we will secure a MiCA licence in the coming months."

The emails to clients in France, Italy, Poland and Spain come days before a June 30 deadline. Crypto firms must have a MiCA license from at least one EU member state by July 1 to provide services across all 27 member states. Unlicensed firms must wind down their EU activities.

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