Coinbase, OKX target Binance users as EU services face suspension

Coinbase and OKX are moving to attract Binance's users in the European Union after the exchange failed to secure a license under the bloc's Markets in Crypto-Assets (MiCA) regulation, CoinDesk reported. According to the report, Binance has notified its EU users that it will suspend some services starting July 1. In response, Coinbase and OKX have launched promotions to attract new customers. Coinbase CEO Brian Armstrong announced that users in Germany, France, Italy, Belgium, Poland, Sweden, and the UK who transfer their assets by July 13 will receive a 5% bonus. Star Xu, founder of crypto exchange OKX, which has Chinese roots, also announced a promotion for users in the European Economic Area (EEA), offering up to an 8% deposit match and new sign-up bonuses. Meanwhile, Binance recently withdrew its MiCA license application in Greece and plans to pursue authorization in another EU member state.