Coinbase and OKX offer European bonuses as Binance faces EU restrictions

Coinbase and OKX are courting European users with signup and deposit bonuses while Binance starts limiting services for EU customers after failing to secure authorization in the bloc. For high-risk PSPs, the point is not the marketing gimmick; it is the regulatory split: licensed venues can keep pushing into the market, while unlicensed ones are forced to pull back.

1. Coinbase CEO Brian Armstrong posted on X that users in Germany, France, Italy, Belgium, Poland, Sweden, and the United Kingdom can get a signup bonus worth 5% of the funds they deposit into their Coinbase account by 13 July. Armstrong also pointed out that Coinbase holds a licence under European crypto regulation standards.
2. OKX founder Star Xu announced bonuses for new European users as well. Its welcome reward and deposit bonuses are larger than Coinbase’s, reaching up to 8%.
3. Binance recently sent emails to customers in the European Union saying it will no longer register new users and will begin restricting services. The exchange was denied a licence by Greek authorities, tried to obtain one in a few other countries without success, and is now seeking authorization in France.
4. Under EU rules, crypto companies had to obtain a MiCA licence in at least one member state by 1 July if they want to legally serve all 27 countries in the bloc. Firms without a licence are required to wind down operations in the EU.
5. The European Central Bank has already approved the European Commission’s proposal to transfer oversight of crypto exchanges and virtual asset service providers (VASP) to the European Securities and Markets Authority (ESMA), rather than leaving supervision to national regulators in each EU country.