Crypto exchanges with approval under the EU’s Markets in Crypto-Assets (MiCA) rules are now competing to win customers from rivals that are cutting back services before the July 1 deadline. Coinbase, Kraken, and OKX have launched promotions, while exchanges like Binance and Bybit Global are reducing operations for some European users due to the new regulations.
Binance recently said it will restrict some services for EU users after pulling its MiCA license application. Bybit Global also announced that its services in the European Economic Area (EEA) will be gradually limited, but its separately licensed Bybit EU business will keep operating.
Regulators say that by Monday, 244 MiCA licenses had been issued across EU countries. Germany had the most with 57 licenses, while some countries, like Greece, Hungary, Poland, Portugal, and Romania, had not approved any crypto firms yet.
OKX Europe is offering 8% interest on new deposits to attract customers. Coinbase has a 5% transfer bonus for eligible users before July 13, and Kraken has started a $1.1 million prize draw for euro deposits.
Under MiCA, crypto companies serving customers across the EU’s 27 member states must obtain authorization as Crypto-Asset Service Providers (CASPs). Exchanges that fail to secure approval risk losing access to one of the world’s largest crypto markets.
While reducing some European operations, Bybit is simultaneously expanding its presence in the Middle East. Company executives say they are developing products tailored to regional preferences, including Sharia-compliant offerings in several Arab markets and derivatives products aimed at younger investors.
MiCA is expected to change Europe’s crypto market, with licensed exchanges gaining more market share as investors move to fully regulated platforms.
Welcome to the next generation of digital finance in Europe 🇪🇺
OKX is MiCA-authorised, offering a single unified account with institutional-grade infrastructure and deep liquidity.
Switch now: 8% deposit bonus + €400 new user reward. €10M in rewards up for grabs. pic.twitter.com/nfy5jg84lh
— OKX (@okx) June 29, 2026
MiCA rules are now in effect across Europe.
Kraken is already MiCA + MiFID compliant, so your trading just keeps going.
Up to 21% APY*, regulated perpetual futures, xStocks, and easy EUR transfers.
Switch now. Every deposit you make this month is a shot at €1M.…
— Kraken (@krakenfx) July 1, 2026
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