Coinbase Poised to Gain EU Market Share as Binance Delays MiCA Compliance
COIN•Binance withdrew its Greek MiCA license application on June 25, six days before the July 1 deadline, delaying its EU-wide passport and pushing full compliance into coming months. Coinbase, OKX and Kraken have already secured MiCA approvals, positioning Coinbase to gain European market share as Binance exits pending licensing.
1. Binance Withdraws MiCA Application
On June 25, Binance formally withdrew its Greek MiCA license bid six days before the July 1 deadline, citing tightening timelines rather than outright rejection. This move pauses its EU passport, delaying access to all 27 EU and 3 EEA countries until approvals arrive in the coming months.
2. Coinbase Secures MiCA Approval
Coinbase completed its MiCA licensing process without significant hurdles, joining OKX and Kraken among roughly 200 firms approved to operate under the new regime. This authorization enables Coinbase to expand trading services across Europe immediately.
3. Implications for European Crypto Market
With only 14 firms authorized to offer trading platforms under MiCA, a major culling is underway. Coinbase stands to capture customers displaced by Binance’s temporary exit and strengthen its regulatory compliance reputation across the region.
