The incentives target Binance users in Europe after the exchange failed to secure a MiCA license, highlighting how regulation is reshaping competition in the region.
Coinbase and OKX are offering bonuses of up to 8% to attract Binance users in the European Union after Binance said it would suspend some EU services from July 1. The shift follows Binance’s failure to secure a MiCA license, referring to the EU’s Markets in Crypto-Assets framework, which is becoming a key gatekeeper for crypto firms seeking to serve the bloc. The move underscores how new licensing rules can quickly redirect users and intensify competition among large exchanges in regulated markets.