Neuner: Binance's MiCA failure fuels intense competition among EU crypto exchanges

Ran Neuner, host of CNBC's CryptoTrader, stated on X that users are the biggest beneficiaries as competition intensifies among cryptocurrency exchanges in Europe. He noted that following Binance's failure to secure a license under the European Union's Markets in Crypto-Assets (MiCA) regulation, other exchanges are moving aggressively to capture market share. While exact performance figures are not public, Neuner pointed to rankings in the European App Store's finance category, where Kraken has fallen one spot, while Bybit EU has climbed 23 places, Coinbase 26, and OKX 103. He added that exchanges are using deposit bonuses as a key incentive to attract users, concluding that such competition is beneficial for the market. The EU fully implemented its MiCA framework on July 1, ending a temporary grace period for operations.