OKX offers 8% bonus as EU crypto licences tighten

From 1 July 2024 the EU’s MiCA regulation requires every crypto‑exchange serving European investors to hold an EU licence. The number of authorised platforms fell from about 3 000 to 244, leaving firms such as Binance, Bybit and others without a licence to cease EU operations.

Exchanges that already hold a MiCA licence – notably OKX, Coinbase and Kraken – are using the transition to attract users. OKX, which secured its licence a year ago, is running a promotion that gives an 8 % bonus on new deposits and up to €400 in rewards for customers who move funds to its platform. Coinbase offers a 5 % bonus for transfers before 13 July, while Kraken runs a $1.1 million prize competition for euro deposits.

The regulatory push is intended to protect investors, but it also creates a short‑term market shift as users migrate to licensed providers. Binance has withdrawn its licence application and is limiting services to European customers, and Bybit’s European arm will operate only through an Austrian licence. The new landscape reshapes where European crypto traders place their assets.