EU Exchanges Scramble as MiCA Deadline Looms: Coinbase and Kraken Offer Bonuses

The EU's Markets in Crypto-Assets (MiCA) framework is set to take effect on July 1, prompting major cryptocurrency exchanges to expand their services and offerings for European users.

Coinbase, Kraken, OKX, and others have obtained MiCA approval, but those without licenses are scaling back access for customers in the EU and wider European Economic Area (EEA).

Binance has withdrawn its MiCA application and will restrict services for EU-based users, while Bybit will progressively limit EEA access from July 1.

Licensed exchanges like Coinbase and OKX are offering incentives to move users away from unlicensed platforms, including deposit offers and transfer bonuses tied to the July 1 deadline.