Coinbase, OKX woo Binance EU users: ‘Been MiCA licensed since 2025’

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. 

Binance, the world’s largest centralized exchange (CEX) by trading volume, failed to get MiCA approval ahead of the deadline. As a result, it has informed users of its winding down as it prepares for a new MiCA application. 

With the impending vacuum and Binance users for grabs, Coinbase and OKX CEOs have launched a predatory move. 

Coinbase CEO Brian Armstrong floated a 5% transfer bonus for Binance users, alongside an improved trading experience. 

Coinbase has been MiCA licensed since 2025 and offers unified global liquidity across spot and derivatives. We’re offering a 5% transfer bonus for people moving funds to Coinbase before July 13th.

Similarly, OKX CEO Star Xu, who seems to be enjoying Binance’s regulatory woes a little too much, countered the Coinbase offer with an 8% bonus. 

Both Coinbase and OKX have approval under the MiCA regime, the EU’s premier regulatory framework for crypto assets and service providers. 

Binance’s CZ faces backlash over EU MiCA comment

For his part, Binance founder Changpeng Zhao (CZ) subtly smirked at the EU’s failure to approve the exchange, terming it a loss to the block. 

Sad to see EU cutting their users off from the best liquidity in the world. Liquidity is the best consumer protection. Hope to see things change in the future.

Well, his comment faced backlash, and OKX’s Star Xu was the first to dismiss his claims. 

This is Binance’s philosophy of doing business. They ignore laws and regulations, while misleading the public with bullshits.

Xu added that Binance’s so-called “best liquidity” also includes trading activity from sanctioned entities, money laundering, and market manipulation. 

In fact, another analyst, Marty Party, projected that Binance will eventually be banned everywhere, not just in the EU. 

There is a reason MiCA and the EU are banning Binance, and they will be banned everywhere.

For her part, Yi He, Binance co-founder, maintained a recent exchange stance, noting that the EU is a ‘small’ part of its business but remains an important market. 

As for Binance and Europe, we take this market seriously. It’s a small part of our business, but an important one, and we’re committed to the EU and our customers there.

The exchange has previously stated that it will seek MiCA approval in the coming months after exiting its Greece application.

Even so, Binance has dominated spot crypto trading volume with a 32% market share in 2026. Whether the MiCA update will change its dominance remains to be seen. 

Final Summary

• Coinbase and OKX CEOs have floated transfer bonus packages to move Binance EU users.
• CZ faced backlash over his comment on Binance’s MiCA license challenge.